LATROBE, Pa., June 4 /PRNewswire-FirstCall/ -- Timken Latrobe Steel, a subsidiary of The Timken Company, announced it would increase prices by 4 percent on all air melt stainless and remelted aerospace alloy steel grades. The price change is effective with all new orders received. Raw material surcharges will remain in effect.
"Increasing energy costs and other key factors have made it necessary for this price increase," said Richard H. Brown, vice president-business development and sales - Timken Latrobe Steel. "Our efforts continue to focus on ways to offset these costs."
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.
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