Timken to Modify Specialty Steel Pricing Policies
01 Settembre 2004 - 10:43PM
PR Newswire (US)
Timken to Modify Specialty Steel Pricing Policies LATROBE, Pa.,
Sept. 1 /PRNewswire-FirstCall/ -- Timken Latrobe Steel, a
subsidiary of The Timken Company, announced it would change two
pricing policies on all remelted aerospace alloy steel grades.
(Logo: http://www.newscom.com/cgi-bin/prnh/19991012/TKRLOGO ) 1.
Beginning with shipments on September 1, 2004, raw material
surcharges will take effect at time of shipment. 2. For orders
cancelled prior to melting, the cancellation charge will change
from 15 percent to 50 percent. On orders already melted, the
cancellation charge will remain at 100 percent. In addition to the
policy changes, Timken Latrobe will also increase base prices by 3
to 10 percent on remelted aerospace alloy steel grades. The price
increase is effective with all new orders received after September
1, 2004. Raw material surcharges will remain in effect. "Increasing
raw material costs and other key factors have made it necessary for
us to implement this price increase and policy changes," said
Richard H. Brown, vice president - business development and sales -
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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