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The Timken Company Approves Plans for Steel Tube Mill

22 April 1998

The Timken Company Approves Plans for Steel Tube Mill

    CANTON, Ohio, April 22 -- The Timken Company
today announced tentative plans for a new steel tube mill that would expand
its steel manufacturing capabilities and increase its tubing product line.
Plans are contingent upon discussions with all key constituents.
    "This investment is part of our strategy of continuing to grow the company
profitably," said Bill J. Bowling, executive vice president, chief operating
officer and president - steel.  "The mill would further strengthen the
company's position as the world's lowest-cost, highest-quality producer of
seamless mechanical steel tubing, allowing us to serve an even wider range of
customers."
    This facility, an estimated $110-million investment, would include state-
of-the-art piercing, rolling and finishing operations designed to complement
the company's existing piercing mills by expanding the wall thickness and size
offerings.  Timken(R) seamless tubing is used in applications in a multitude
of industries, including automotive, bearing and oil country.  The location of
the facility has not yet been determined.
    "A new steel tube mill would position the company to be an even stronger
global competitor," said Karl P. Kimmerling, group vice president - alloy
steel.  "Increased capacity and a broader product line, combined with our
expertise in applications development and steel manufacturing, will keep
Timken a leader in an increasingly competitive market."
    This step would continue the Steel Business' transformation, which began
in 1985 with the construction of the Faircrest Steel Plant, the most advanced
alloy steel manufacturing plant in the world.  Timken is currently completing
a $55 million rolling mill to position the Harrison Steel Plant as a premier
producer of high-quality, intermediate-size bars.
    "This investment would leverage our steel assets as well as more than 80
years of steel-making expertise, complementing the quality tubing that we are
producing at our Gambrinus and Wooster plants," said Mr. Kimmerling.  "It
would solidly position us for continued growth into the future."
    The Timken Company (http://www.timken.com) is a leading international
manufacturer of highly engineered bearings and alloy steels.  The company
employs 21,000 people worldwide and reported 1997 sales of more than U.S.
$2.6 billion.

SOURCE  The Timken Company