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. |
