Industrial company Timken is considering a $225 million upgrade to its Faircrest steel plant in Canton, a move that could increase output by 25 percent.

The plant now employs 475 people, a figure that would go up significantly by 2014 if the company decides to follow through on the investment, said company spokeswoman Lorrie Paul Crum.

"Our domestic customers have expressed the desire to have more of our steel available,” Crum said. The upgrade would involve installing new equipment that would let Timken increase its production of high-strength specialty steel products favored by automakers and some industrial machinery companies.

Timken has been expanding its steel making capabilities for the past few years with expansions to its Harrison and Gambrinus steel plants in Canton. Earlier this year, the company announced a $35 million expansion at Faircrest.

Before it will commit to the expansion, Timken officials said the company needs to talk to suppliers, potential customers, the United Steelworkers union and government officials. Company officials said they need agreements from various stakeholders for the expansion to make good business sense.

Ohio Department of Development spokeswoman Bethany McCorkle said the state doesn’t comment on ongoing discussions with industries, but the department was pleased that Timken is considering an expansion.

"We’re very supportive of the company,” McCorkle said. “Job creation is a major goal for the state, especially job creation from a valued company like Timken.”

Timken’s steel business has been the primary source of huge earnings increases this year, and in financial reports, the company says it expects steel to continue to be a profit center.

Crum said Timken is considering two new pieces of equipment for the plant — a ladle refiner and continuous casting machinery. The refiner would expand Timken’s capacity to melt high-strength steel. The casting machinery would allow Timken to go from molten metal directly into steel bars for customers.

Now, the company casts steel in ingots. Making steel bars requires it to melt the steel down again. Crum said eliminating that process should increase production capacity and cut costs for bar-steel customers.

Timken hopes to decide on its expansion by the end of the year. Crum said the company will be able to share jobs details at that time.