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Timken To Increase Steel Bar Prices, Add Natural Gas Surcharge

CANTON, Ohio, Sept. 20 /PRNewswire-FirstCall/ -- The Timken Corporation today announced price increases on steel bar products effective with shipments November 1, 2005 as follows:

 

  • Non-contract base prices will increase by $25 per ton for all sizes and grades of carbon and alloy steel bars.
  • All thermal treatment pricing extras will be increased by $30 per ton.
  • A natural gas surcharge will be implemented using the monthly close NYMEX Natural Gas Contract Settlement price (Henry Hub Louisiana), as published in Platts Gas Daily by McGraw-Hill. A trigger point of $6.60 per MMBtu and a multiplier of 5.5 will be used to determine the surcharge amount.
  • All other raw material surcharges will remain in effect.

 

 

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.


Bob Bourquin, Senior Communications Representative, (330) 471-7106, or Facsimile: (330) 471-7032, or robert.bourquin@timken.com, or Steve Tschiegg, Manager - Investor Relations, (330) 471-7446, or Facsimile: (330) 471-2797, orsteve.tschiegg@timken.com

 

SOURCE The Timken Company