LATROBE, Pa., March 14 /PRNewswire-FirstCall/ -- Timken Latrobe Steel, a subsidiary of The Timken Company, announced it would increase prices by 5 to 10 percent on all remelted aerospace alloys and air melt stainless steel grades. The price change will be effective with all new orders received beginning March 15, 2005. Raw material surcharges will remain in effect.
"Increasing operational costs and other key factors have made this price increase necessary," said Hans J. Sack, president - 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 27 countries. The company reported record sales of $4.5 billion in 2004 and employed approximately 26,000 at year-end.
Media: Robert G. Bourquin, Sr. Marketing Communications Representative, (330) 471-7106
Investor Contact: Kevin R. Beck, Manager - Investor Relations, (330) 471-7181
SOURCE The Timken Company