Timken to Increase Specialty Steel Prices
LATROBE, Pa., June 4 -- Timken Latrobe Steel, a subsidiary of The Timken Company, announced it would increase prices by 4 percent on all air melt stainless and remelted aerospace alloy steel grades. The price change is effective with all new orders received. Raw material surcharges will remain in effect.
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"Increasing energy costs and other key factors have made it necessary for this price increase," said Richard H. Brown, vice president-business development and sales - Timken Latrobe Steel. "Our efforts continue to focus on ways to offset these costs."
Timken Latrobe Steel is a leading specialty steel producer in North America. The Timken Company ; ( www.timken.com ) is a leading global manufacturer of highly engineered bearings and alloy steels and a provider of related products and services with operations in 27 countries. A Fortune 500 company, Timken recorded 2003 sales of $3.8 billion and employed approximately 26,000 at year-end.
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