TimkenTube Prices to Increase April 1
28 March 2000
Tube Prices to Increase April 1 THE TIMKEN COMPANY LOGO The Timken Company, Worldwide Leader in Bearings and Steel. (PRNewsFoto)[KC] CANTON, OH USA 10/12/1999CANTON, Ohio, March 27 Due to global market strengthening within the steel industry and rising raw material costs, The Timken Corporation today announced a price increase on steel tubing products. Prices on tubing products with a wall thickness greater than 11/2 inches will increase by 8%. Tubing products with a wall thickness less than or equal to 11/2 inches will increase by 3%. The increase is effective with new orders placed after April 1 and shipments made after May 31, 2000. (Photo: http://www.newscom.com/cgi-bin/prnh/19991012/TKRLOGO ) "Recovering prices throughout the industry are evidence of globally strengthening markets," said Bob Keeler, director - steel sales - North America, South America and Asia. "So far this year, our business levels for tubing products are up more than 25 percent from 1999 levels. Demand is as strong as we've seen in the past two years." 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: Certain statements in this news release are or could be construed as forward-looking. Various factors could cause actual results to differ materially from these forward-looking statements, including changes in customer demand. Additional factors are described in the company's 1999 annual report, page 17. The company undertakes no obligation to update any forward- looking statement.