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Timken Receives Disbursement Under U.S. Trade Law

CANTON, Ohio, Dec. 2 /PRNewswire-FirstCall/ -- The Timken Company (NYSE: TKR) today announced that it received approximately $81 million under the U.S. Continued Dumping and Subsidy Offset Act (CDSOA) for 2005. Timken will apply the entire amount toward funding the company's U.S. pensions. CDSOA provides the authority for U.S. Customs to distribute antidumping duties directly to U.S. producers harmed by unfair trade that have continued to invest in their technology, equipment and people. A leading provider of friction management and power transmission solutions, Timken received a distribution under CDSOA based on the company's consistent investments to remain competitive in the face of continued dumping of bearings.

 

About The Timken Company

 

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.


Media Contact: Jeff Dafler, Manager - Global Media & Government Relations, Telephone: (330) 471-3514, Facsimile: (330) 471-7032, orjeff.dafler@timken.com, or Investors, Steve Tschiegg, Manager - Investor Relations, Telephone: 330-471-7446, or Facsimile: (330) 471-2797, orsteve.tschiegg@timken.com

 

SOURCE The Timken Company