The president and chief executor of Ohio's Timken Co. James W. Griffith said that Chinese wind powered turbine is the unique, biggest growing market for Timken Co.'s industrial bearings. Griffith put in the last interview that, the company's sales volume per year in China is around 50 million, and the number will increase twice the volume in the year 2011. He admitted Chinese sales volume is relatively small to a company with a Predicting sales volume for about 40 billion dollars this year. Nevertheless, he is confident to china’s wind power industry, for Asia accounts for 12% of the global total sales volume, among which china has the majority.
Chinese government is carrying out the process of replacing coal with clean energy, hoping that by the year 2010 wind power installed capacity can reach 100 thousand megawatt, eight times more than that in 2008. The fierce market competition cuts the price of wind powered turbines.
Griffith said in the past five years, Timken Co. has invested hundreds of millions of dollars into China’s market, including a joint venture in Xiangtan, Hunan Province, which strengthens its capability of producing super-large wind powered turbines.