LATROBE, Pa., May 27 /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, air melt stainless steel and tool steel grades. The price change will be effective with all new orders received beginning June 1, 2005. Raw material surcharges will remain in effect.
"This price increase will enable us to recover the increasing operational costs caused by several key factors, including higher costs for energy and manufacturing supplies, that we are experiencing throughout our entire manufacturing process," said Hans J. Sack, president - Timken Latrobe Steel. "In addition, this increase will assist us in responding to current and future market demands."
Timken Latrobe Steel, a subsidiary of The Timken Company, is a leading specialty steel producer in North America.The Timken Company, (NYSE: TKR,www.timken.com) keeps the world turning, with innovative ways to make customers' products run smoother, faster and more efficiently. Timken's highly engineered bearings, alloy steels and related products and services turn up everywhere. With operations in 27 countries, sales of $4.5 billion in 2004 and 26,000 employees, Timken is Where You Turn™ for better performance.
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SOURCE The Timken Company