Timken to Modify Specialty Steel Pricing Policy
31 Gennaio 2005 - 6:00PM
PR Newswire (US)
Timken to Modify Specialty Steel Pricing Policy LATROBE, Pa., Jan.
31 /PRNewswire-FirstCall/ -- Timken Latrobe Steel, a subsidiary of
The Timken Company, announced that it is changing its pricing
policy to "price in effect at time of shipment" to select market
segments, effective with shipments on April 1, 2005. Timken Latrobe
Steel will temporarily suspend its cancellation charge of 50
percent during the month of February on any planned orders to
customers affected by this policy change. Raw material surcharges
will continue to remain in effect. (Logo:
http://www.newscom.com/cgi-bin/prnh/19991012/TKRLOGO ) "This change
in policy will enable Timken Latrobe to increase the speed of
various planned capital projects to better service the demands
being placed on the specialty steel industry. In addition, this
policy change will better align Timken Latrobe with some of the
market segments we serve," said Hans J. Sack, president - Timken
Latrobe Steel. Timken Latrobe Steel is a leading specialty steel
producer in North America. The Timken Company (NYSE:TKR)(
http://www.timken.com/ ) is a leading global manufacturer of highly
engineered bearings and alloy steels and a provider of related
products and services with operations in 27 countries. A Fortune
500 company, Timken recorded 2003 sales of $3.8 billion and
employed approximately 26,000 at year-end. Media Contact: Robert G.
Bourquin, Senior Communications Representative, (330) 471-7106,
http://www.timken.com/media Investor Contact: Kevin R. Beck,
Manager - Investor Relations, (330) 471-7181
http://www.newscom.com/cgi-bin/prnh/19991012/TKRLOGO
http://photoarchive.ap.org/ DATASOURCE: The Timken Company CONTACT:
Media, Robert G. Bourquin, Senior Communications Representative,
+1-330-471-7106, or Investors, Kevin R. Beck, Manager - Investor
Relations, +1-330-471-7181, both of The Timken Company Web site:
http://www.timken.com/ http://www.timken.com/media
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