TimkenSteel Corp. announced plans to invest approximately $40 million to open an additional continuous heat-treat facility in the U.S. to produce more value-added steel for demanding applications. The company, a leader in customized alloy steel products, is evaluating locations for the operation and plans to make that decision in the third quarter of 2014. The facility would be fully operational within two years and have capacity for 50,000 process-tons annually of 4-inch to 13-inch bars and tubes. It would be larger than each of the company's three existing thermal-treatment facilities in Canton, Ohio.
In other news, The Timken Company will invest $22 million in new customer and sales management tools designed to improve the customer experience through increased sales-force effectiveness. The new XSell platform, which is part of the company's previously announced DeltaX Initiative, leverages the SAP infrastructure Timken deployed enterprise-wide over the past several years. It will provide the global sales team with new customer relationship management (CRM) capabilities as well as more consistent, mobility-enabled sales processes and business tools.