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The Timken Company Testifies at Antidumping Hearing

22 March 2000

The Timken Company Testifies at U.S. International Trade Commission Antidumping Hearing THE TIMKEN COMPANY LOGO The Timken Company, Worldwide Leader in Bearings and Steel. (PRNewsFoto)[KC] CANTON, OH USA 10/12/1999    

                   Seeks Continuation of Antidumping Orders


    CANTON, Ohio, March 21 The Timken Company
today testified before the U.S. International Trade Commission in support of
continuing the U.S. antidumping duty orders on tapered roller bearings
imported from certain countries.  The International Trade Commission is
holding hearings to determine whether injury to the U.S. tapered roller
bearing industry is likely to continue or recur if the orders were to be
revoked.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/19991012/TKRLOGO )
    The duty finding and orders, established in 1976 and 1987, sought to
prevent unfair dumping of tapered roller bearings onto the U.S. market.
Dumping occurs when a supplier sells a product at prices lower than its cost
of production or lower than prices it charges in its own country, impeding the
ability of U.S. companies to innovate and compete.
    "Despite the existence of the antidumping orders, foreign producers have
continued to dump tapered roller bearings into the U.S. market and have
absorbed dumping duties assessed on dumped imports," said W.R. Timken, Jr.,
chairman and chief executive officer of The Timken Company.   The company
maintains that pervasive dumping has injured U.S tapered roller bearing
manufacturers by causing lost sales and depressed prices, which has lowered
employment, production, R&D spending and investment.  Mr. Timken indicated
that while the antidumping orders have provided some relief from dumping, they
have not eliminated it or the continued injury caused to U.S. manufacturers.
He urged the Commission to maintain the antidumping orders because this injury
will continue and intensify if the orders are revoked.
    Mr. Timken said The Timken Company and other domestic producers should be
able to compete in the U.S. market without being continuously injured by
unfairly priced imports.
    "If the company were not harmed by unfairly priced imports, we would
increase process improvement and innovation and, as a result, provide our
customers with increased savings," he said. "We also could better provide our
employees with steady employment and allow them to make and sell the best
products possible."
    James W. Griffith, president and chief operating officer, told the
Commission that if the orders were revoked tapered roller bearing producers in
Japan, China, Romania and Hungary would quickly begin selling their products
in the United States at lower prices and in increasing volumes, using excess
capacity available in those countries.  If this were to happen, there could be
a significant adverse effect on the Company's business, financial condition
and operations as the company would lose sales or lower prices to maintain
business.  Given the clear danger to the U.S. industry, Mr. Griffith concluded
that the Commission must not allow the antidumping orders to be revoked.  "I
strongly urge the Commission to maintain the orders," he said.
    The International Trade Commission is expected to announce its decision in
early June.
    The Timken Company ( http://www.timken.com ) is a leading
international manufacturer of highly engineered bearings and alloy steels with
operations in 25 countries.  The company employs about 21,000 people worldwide
and reported 1999 sales of U.S. 2.5 billion.

    NOTE:  The statements in this press release that are not historical in
nature are forward-looking.  In particular, statements regarding the effects
of maintenance or revocation of the antidumping orders are forward looking.
The company cautions that actual results may differ materially from those
projected or implied in forward-looking statements due to a variety