US bearings and alloy steel maker Timken Co will establish a joint venture with China's Xiangtan Electric Manufacturing Co to produce ultra-large-bore bearings used in wind turbines for the Chinese market.
The venture, 80 percent-owned by Timken, will build a US$38 million facility in Xiangtan, Hunan Province. Construction will start next year, the Ohio-based company said yesterday.
"We believe our collaboration with XEMC will contribute to Chinese economic growth while also advancing the use of sustainable energy to the benefit of us all," Roger Lindsay, Timken's senior vice president for Asia, said in a statement.
The venture will contribute to China's goal of generating 30 million kilowatts of power from wind energy by 2020, it added.