Timken to Increase Specialty Steel Prices
LATROBE, Pa., June 26 -- The Timken Company today announced its Timken Latrobe Steel subsidiary will increase prices by 3 percent to 7 percent on all remelted aerospace alloys. The price change will be effective immediately for all new inquiries and beginning July 1, 2006, for all new orders. Raw material surcharges will remain in effect.
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"This price increase will enable Timken Latrobe Steel to recover the increasing operational costs that we are experiencing throughout our entire manufacturing process so we can continue to invest in capacity to improve our response to market demands," said Hans J. Sack, president - Timken Latrobe Steel.
About The Timken Company
The Timken Company (http://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 $5.2 billion in 2005 and 27,000 employees, Timken is Where You Turn(TM) 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
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