CANTON, Ohio, April 30 /PRNewswire-FirstCall/ -- The Timken Corporation today announced price increases on steel bar products. Non-contract prices will increase by $30 per ton for all sizes and grades of carbon and alloy steel bars effective with shipments beginning May 10, 2004.
"Increases in costs continue to challenge our steel business financials, despite surcharges addressing major cost items. The increase is necessary in our efforts to regain acceptable levels of profitability," said Robert N. Keeler, director - steel sales - North and South America.
The Timken Corporation is a U.S. sales and marketing subsidiary ofThe Timken Company (NYSE: TKR, www.timken.com) is a leading global manufacturer of highly engineered bearings and alloy steels and a provider of related products and services with operations in 29 countries. The company recorded 2003 sales of $3.8 billion and employed approximately 26,000 at year-end.
Media Contact: Robert G. Bourquin, Senior Communications Representative, (330) 471-7106, or Investor Contact, Kevin R. Beck, Manager - Investor Relations, (330) 471-7181
SOURCE The Timken Company
CONTACT: Media, Robert G. Bourquin, Senior Communications
Representative, +1-330-471-7106, or Investors, Kevin R. Beck, Manager -
Investor Relations, +1-330-471-7181, both of The Timken Company
Web site: http://www.timken.com
http://www.timken.com/media
(TKR)