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Timken to Increase Tool Steel Prices

LATROBE, Pa., Oct. 20 /PRNewswire-FirstCall/ -- Timken Latrobe Steel, a subsidiary of The Timken Company, announced it would increase prices by 6 to 8 percent on rounds, plate and flats tool steel and alloy products. The price change is effective with shipments beginning on November 1, 2004. Raw material surcharges will remain in effect.


"High energy, scrap and production costs are reasons for this price increase," said David A. Murray, vice president - sales and marketing - 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, http://www.timken.com/media , or Investor Contact: Kevin R. Beck, Manager - Investor Relations, (330) 471-7181

 

SOURCE The Timken Company