Steel and bearing manufacturer to close three plants with 1,300 workers

Friday, May 14th 2004, 12:12 pm

By: News On 6

CANTON, Ohio (AP) _ The Timken Co., which manufactures alloy steel and bearings for products from computer disks to oil rigs, announced Friday it will close three plants employing 1,300 people.

The company has reported higher earnings this year as demand by industrial, steel and automotive markets increased. However, officials said production at the three plants in Canton declined 27 percent over the last five years.

Company officials had warned employees that the bearing plants could close if they did not improve customer response and lower costs.

``We are disappointed that our talks with the union did not lead to the changes necessary to make these facilities viable,'' Chief Executive Officer James W. Griffith said in a news release Friday. No timeline was set for closing the plants.

Stan Jasionowski, president of Steelworkers Local 1123, said workers in the affected factories have cut costs and increased production.

``We've done everything in the past that we can do to help this company,'' he said.

Timken currently employs 4,800 people in the Canton area and about 26,000 people worldwide. The company has operations in 27 countries and had sales of $3.8 billion in 2003.