CANTON, Ohio: Jan. 14, 2011 — The Timken Company (NYSE:TKR) today announced an increase in non-contract base prices for all special bar quality (SBQ) products depending on size and product specifications as follows:
12-inch size bars and smaller:
For hot-rolled bars, an increase of $40 per ton.
For single thermal treatment bars, an increase of $50 per ton.
For quench and temper bars, an increase of $60 per ton.
Greater than 12-inch size bars:
For hot-rolled bars, an increase of $60 per ton.
For single thermal treatment bars, an increase of $70 per ton.
For quench and temper bars, an increase of $80 per ton.
These price increases are effective with shipments beginning on Mar. 1, 2011, and apply only to non-contract pricing. Raw material surcharges remain in effect.
About The Timken Company
Timken’s Steel Group produces some of the cleanest, highest-quality steels in the world for the most demanding applications. The majority of steel manufactured by Timken is custom-melted to the customer's chemistry and manufacturing specifications in solid round or square bars, seamless tubes or semi-finished parts.
The Timken Company (NYSE: TKR, http://www.timken.com) keeps the world turning with innovative friction management and power transmission products and services, enabling its customers’ machinery to perform more efficiently and reliably. With sales of $3.1 billion in 2009, operations in 27 countries/territories and approximately 17,000 employees, Timken is Where You Turn® for better performance.
The Timken Company
Media Contact: Lorrie Paul Crum
Manager – Global Media and Strategic Communications
Mail Code: GNW-37
1835 Dueber Avenue, S.W.
Canton, OH 44706 U.S.A.
Office: (330) 471-3514
Mobile: (330) 224-5021
lorrie.crum@timken.com
Investor Contact: Steve Tschiegg
Director – Capital Markets and Investor Relations
Mail Code: GNE-26
1835 Dueber Avenue, S.W.
Canton, OH 44706 U.S.A.
Office: (330) 471-7446
steve.tschiegg@timken.com
For Additional Information:
www.timken.com/media
www.timken.com/investors