Timken Co., a maker of bearings and alloy steels, said it will close its production facility in Sao Paulo, Brazil, by the end of the year to improve performance of its automotive group.

The closure of the plant, which currently employs 300 people, will eliminate manufacturing redundancies and further align the company's global footprint to expected levels of demand going forward.

The company had previously announced a restructuring initiative in 2005 and a workforce reduction in 2006. Since 2005, the company has reduced automotive employment by more than 2,500 positions, it said in a statement.

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