Canton, Ohio-based steelmaker The Timken Company announced the start of a $225 million expansion to the Faircrest Steel Plant in Stark County, Ohio on Monday. Once the expansion is complete, the Faircrest plant's productivity, product range and production capacity of specialty alloy steel bars is expected to improve.
A new ladle refiner and large-bloom continuous caster are the centerpieces of the steel plant expansion. Targeted for start-up in 2014, the new equipment is expected to increase the Faircrest plant's shippable capacity by 25 percent and enable the production of a broader range of large-diameter bars.