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Timken Opens Technology Center

It's in Greenville, S.C.

Maker of engineered bearings and alloy steels,

Timken

(TKR) - Get Timken Company Report

opened its new Timken Technology Center on the campus of Clemson University's International Center for Automotive Research at Greenville, S.C., on Tuesday.

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Timken's 118,000 square-foot, $10 million new center will focus on the development of automotive powertrain technology.

"We look at our new facility as an important step towards developing more highly differentiated products for our customers. It also represents an opportunity to participate in one of the premier automotive and motorsports research and educational centers in the world," the Canton, Ohio-based company said.

The shares of the company were down 67 cents at $31.06, Tuesday.

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