Timken Invests $14 Million to Increase Steel Capacity – The Timken Company announced that it had invested $14 million in a new thermal treatment facility at its steel plant in Canton. The investment will increase Timken’s capacity to produce heat-treated steel bars and tubes suited for use in the energy and industrial market sectors. The new facility (34,000 sq.ft.) will begin operations in December 2008 and is expected to reach a capacity of 45,000 tons per year. The new facility will also have the flexibility to produce steel bars and tubes with metallurgical properties suitable for other markets. Bob Keeler, vice president of sales for Timken Steel, said that the added capacity allows Timken to better meet strong demand for steel in energy and industrial market sectors that require precise mechanical properties for the most demanding steel applications. Timken’s $60 million previously announced investment in its steel rolling mill operations will start production later this year also. To read more about the new facility, click here.

Diebold Chosen by U.S. Postal Service to Implement Nationwide Security Program – The United States Postal Service (USPS) is capitalizing on the national presence, IT, and security expertise of Diebold Incorporated to implement a multi-site, technologically-advanced video security system. With more than 40,000 sites across the country, the USPS has selected Diebold Security to manage this nationwide implementation under a three-year agreement. The contract has the potential to span more than 12 years. Diebold Security will install IPv6-compliant cameras, encoders, software, and networking equipment, as well as provide education and training along with maintenance and support services. The architecture of the new surveillance system will offer USPS unprecedented access to high-quality video and enhanced mobility, security, and network management features. Thomas W. Swidarski, Diebold president and CEO, had this to say: “Diebold is one of only a few security integrators with the infrastructure and technological expertise to undertake such an extensive project and deliver an integrated video security system. We can offer large agencies like the USPS comprehensive capabilities to ensure a smooth migration from the older platform, as well as the security know-how to ensure they are deploying the most effective video security systems available.” To read more about this nationwide contract, click here.

Ohio’s Economic Development Strategic Plan Released –“Ohio, Home of Innovation and Opportunity” is a forward thinking strategic plan to change the trajectory of Ohio’s economy by purposefully redesigning our business climate to increase the global competitiveness of Ohio’s employers. In addition to the release of the strategic plan, in June Ohio enacted a $1.57 billion economic stimulus plan to create thousands of new, good-paying jobs for Ohioans in growing industries of the future. To view the complete strategic plan, click on the Ohio Department of Development site.

Stark Development Board

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