The Timken Company sold its Ashland Tooling Plant to Ashland Precision Tooling LLC. The 54,000-square-foot manufacturing facility is located at 1750 Baney Road South in Ashland, OH. The facility produces a variety of tooling, primarily for Timken's industrial and automotive businesses. The decision to sell the plant resulted from the fact that manufacturing of tooling is not a core company business. "It has been our intention to sell the Ashland plant as an ongoing business to a qualified tooling manufacturer that would operate it as an independent tooling business, capable of offering employment," said James Griffith, president and CEO. The terms of the transaction were not disclosed.