Timken to Increase Aerospace Specialty Steel Prices
LATROBE, Pa., Dec. 3, 2004 -- Timken Latrobe Steel, a subsidiary of The Timken Company, announced it would increase prices by 5 to 10 percent on all remelted aerospace alloys and air melt stainless steel grades. The price change will be effective with all new orders received beginning December 6, 2004. Raw material surcharges will remain in effect.
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"Increasing operational costs and other key factors have made this price increase necessary," said Daniel G. Hennessy, vice president - Timken Latrobe Steel.
Timken Latrobe Steel is a leading specialty steel producer in North America. The Timken Company ;( http://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.
Media Contact: Robert G. Bourquin, Senior Communications Representative, (330) 471-7106, http://www.timken.com/media
Investor Contact: Kevin R. Beck, Manager - Investor Relations, (330) 471-7181
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