According to sources connected to the deal, the Independent Voter Network has confirmed Timken’s plans to build a $16 million factory in San Jose Iturbide, Guanajuato, Mexico ended Wednesday.
The factory was a planned 200,000 square-foot facility. Sources say the decision to cancel the factory is directly related to the president-elect’s talk of border tariffs that brought into question the business sense of building such a plant.
There are political ties to the president-elect and Timken as well. Jane and Tim Timken hosted a $25,000 per plate dinner for Trump back in August.
Of note, in 2012, President Obama carried Stark County, Ohio, where Timken is located, with 50% of the vote. In the November election, Trump flipped it, and took Stark County with 56% of the vote.
The decision by Canton-based Timken, mirrors the decision by Ford Motor Company to not pursue plans to build a plant in Mexico.
According to filings, Timken Company posted sales of $3.1 billion in 2014.