This is the first edition of a new monthly
newsletter, published by the Stark Development Board, that
will begin to highlight some of the important news events
and projects that will be making a positive impact upon our
economy and the future of Stark County.
Timken Invests $ 60 million In Canton –
The Timken Company announced
this past January, 2007 that it will invest $60 million in
its steel rolling mill operations in Canton, Ohio to increase
the companie's capability to produce differentiated steel
products. This investment will enable Timken to competitively
produce steel bars down to 1-inch diameter for use in power
transmission and friction management applications for a variety
of customers, including the rapidly growing automotive transplant
companies like Honda, Toyota and Nissan. The 76,000 square-foot
addition will be built at the Harrison Steel Plant in Canton.
The project will include expanding rolling, finishing and
inspection capabilities. Construction is expected to begin
in mid-June, with completion expected in mid-2008. Once completed,
Timken expects to add approximately 30 new positions to operate
the small-bar mill. For more detail, click
here.
Rolls-Royce Launches US Fuel Cell Business in Stark
County – Rolls-Royce,
a world leading provided of power systems and services for
use on land, at sea and in the air, announced on October 27,
2006, that its fuel cell business has launched a subsidiary
in the United States to house their US headquarters and technology
center. After studying multiple locations throughout the country,
Rolls-Royce decided to locate on the campus of the Stark State
College of Technology in Canton, Ohio at the new Fuel Cell
Prototyping Center that was completed early in 2006. For more
detail on Rolls-Royce and their decision, click
here.
Rolls Royce Makes Another Significant Decision
– On April 3, 2007, Rolls-Royce,
announced that it has enhanced its global fuel cell capability
with the strategic acquisition by Rolls-Royce Fuel Cells Division
(US) of Ohio-based SOFCO-EFS from McDermott International,
Inc. Founded in 2003, the SOFCO-EFS’ research and development
team has proven expertise in the fuel processing technologies,
advanced research and development of Solid Oxide Fuel Cell
(SOFC) materials and stacks, and advanced system integration
capabilities. This acquisition also underscores the commitment
Rolls-Royce is making in development SOFC systems for megawatt-scale,
stationary power applications with the business goal of introducing
a competitive product in this decade. For more detail on this
story, click
here.
Hydrodec Announces First U.S. Plant To Be Located
in Canton – Hydrodec
Group plc, headquartered in London with operations in
Australia, has recently announced that it will be constructing
its first North American plant in Canton, Ohio. The company
will be investing over $11 million to compete a new "green"
facility that will make high-performance transformer oil refining
through a globally patented, environmentally sensitive process.
using a new environmentally sensitive process for sale back
to the utility and transformer industry. The City of Canton
was chosen due to its location is one of the major industrial
regions in the U.S., close to both the suppliers of feedstock
oil and potential Superfine transformer oil customers.
The State of Ohio and the City of Canton have also provided
a package of incentives to Hydrodec with a total value almost
$2 million. The company will be hiring 65 persons, with an
average salary of over $65,000. The new plant, located at
the Stein Industrial Park near U.S. 30 and State Route 43
should be operational during the first half of 2008. For more
detail, click
here. |
