CANTON, Ohio, Jan. 14, 2011 /PRNewswire-FirstCall/ -- The Timken Company (NYSE: TKR) today announced a base-price increase of up to 15 percent on hot-rolled carbon and alloy seamless mechanical tubing, depending on the size and product specifications.
(Logo: http://photos.prnewswire.com/prnh/20100210/TIMKENLOGO )
This increase is effective immediately for new orders and applies only to noncontract pricing. Raw material surcharges remain in effect.
About The Timken Company
Timken's Steel Group produces some of the cleanest, highest-quality steels in the world for the most demanding applications. The majority of steel manufactured by Timken is custom-melted to the customer's chemistry and manufacturing specifications in solid round or square bars, seamless tubes or semi-finished parts.
The Timken Company (NYSE: TKR, http://www.timken.com) keeps the world turning with innovative friction management and power transmission products and services, enabling its customers' machinery to perform more efficiently and reliably. With sales of $3.1 billion in 2009, operations in 27 countries/territories and approximately 17,000 employees, Timken is Where You Turn® for better performance.
Media Contact: Lorrie Paul Crum, Manager – Global Media and Strategic Communications, Mail Code: GNW-37, 1835 Dueber Avenue, S.W., Canton, OH 44706 U.S.A., Telephone: (330) 471-3514, Mobile: (330) 224-5021, lorrie.crum@timken.com, or Investor Contact: Steve Tschiegg, Director – Capital Markets and Investor Relations, Mail Code: GNE-26, 1835 Dueber Avenue, S.W., Canton, OH 44706 U.S.A., Telephone: (330) 471-7446, steve.tschiegg@timken.com
For Additional Information: www.timken.com/media, www.timken.com/investors
SOURCE The Timken Company