A Union County company that manufactures bearings announced Wednesday it is investing $2.5 million to buy new equipment and expand operations.

Timken Tyger River Plant in Union, a Fortune 500 company that was founded in 1899, supplies more than 17,000 different bearings components to industrial customers worldwide from its 350,000-square-foot building at 408 Industrial Drive in Union.

“Investing in our people, the community, and state-of-the-art technology has been critical to the long-term success of our plant in a globally competitive marketplace,” plant manager Bob Hart stated. “Our plant has been a part of this community for over 52 years, and we sincerely appreciate the leadership, support and partnership approach to doing business as we all strive to make Union County a strong community to live and work.”

Kathy Jo Lancaster, executive director of the Union County Development Board, said the Timken Co. is a longtime supporter of the local school district, the Spartanburg Community College Union County Campus and University of South Carolina Union to help prepare skilled workers to meet future industry demands.

“Timken has been a staple in our community, thereby increasing job opportunities for local citizens and strengthening our local tax base,” Lancaster stated.