LATROBE, Pa., Nov. 21 /PRNewswire-FirstCall/ -- Timken Latrobe Steel, a subsidiary of The Timken Company (NYSE: TKR), announced it would increase prices by 3 percent to 8 percent on all remelted aerospace alloys. The price change will be effective immediately on all new inquiries and for all new orders received beginning Dec. 1, 2005. Raw material surcharges will remain in effect.
"This price increase will enable Timken Latrobe Steel to recover the increasing operational costs that we are experiencing throughout our entire manufacturing process," said Hans J. Sack, president - Timken Latrobe Steel. "Although Timken Latrobe Steel has a surcharge mechanism to reflect our direct consumption of natural gas, we continue to experience higher costs for operating supplies due to the effect of energy prices on our vendors' operations."
About Timken Latrobe Steel
Timken Latrobe Steel, a subsidiary of The Timken Company (NYSE: TKR), 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.
Bob Bourquin, Senior Communications Representative, Telephone: (330) 471-7106, Facsimile: (330) 471-7032, robert.bourquin@timken.com
Steve Tschiegg, Manager - Investor Relations, Telephone: (330) 471-7446, Facsimile: (330) 471-2797, steve.tschiegg@timken.com
SOURCE The Timken Company