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Interview with James Griffith, CEO of The Timken Company.

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Timken spends $50 million a year on research and development, and 80 percent of the total goes toward creating new products, Griffith says. Since its founding in 1899, Timken has been a worldwide leader in tapered roller bearings and alloy steel. “Now, in order to differentiate ourselves for the future, we are applying the technology of friction management and power transmission across a range of products that create value in global markets,” Griffith says. “Like Parker Hannifin, with its expertise in fluid power, we are a leader in a technology, not just a company that bangs out products. You can’t survive banging out products anymore.”

Timken is reshaping its business portfolio to broaden its product offerings and capabilities. The company is entering new markets such as the aerospace aftermarket, putting a premium on the availability of a well-educated workforce.

Manufacturers across the region have begun to realize they must advocate for their needs with education leaders. MAGNET representatives have met with community college officials, and both Lorain County Community College and Stark State College of Technology have developed classes to equip students with specific skills.

Additionally, The Timken Company has funded the Center for Information Technology at Stark State College. Education that is closely tied to the skills needed in the workplace is as
critical as efficiency and innovation to Northeast Ohio’s future. NEXT PAGE