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Timken to Increase Steel Bar Prices

CANTON, Ohio, March 9 /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 April 5, 2004.


"Scrap concerns are well documented throughout the industry and our surcharge system has been effective in recovering some of those cost increases. Escalating costs in our industry have permeated all other consumable items as well, and this base price increase is necessary to address those costs," said Robert N. Keeler, director - steel sales - North and South America.

 

The Timken Corporation is a U.S. sales and marketing subsidiary of
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.


For Additional Information: Jason H. Saragian, Communications Manager, (330) 471-3514. Or visit www.timken.com/media

 

SOURCE The Timken Company