LATROBE, Pa., Sept. 28 /PRNewswire-FirstCall/ -- Timken Latrobe Steel, a subsidiary of The Timken Company, announced it would increase base prices by an average of 8 percent on all air melted and remelted noncontract aerospace alloy steel grades. The price change is effective with all new orders received beginning on October 1, 2004.
Raw material surcharges will remain in effect.
"Increasing energy and operational costs along with other key factors have made it necessary for these price increases," said Richard H. Brown, vice president-business development and sales -- Timken Latrobe Steel.
Timken Latrobe Steel is a leading specialty steel producer in North America.
The 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