Timken to Increase Prices on Special Bar Quality Products
CANTON, Ohio, Feb. 20, 2014 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com) today announced it will increase base prices on special bar quality (SBQ) products 6.5" and below by $30 per ton. These price increases are effective with shipments beginning on March 10, 2014, and apply only to non-contract pricing. Raw material surcharges will remain in effect.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com), a global industrial technology leader, applies its deep knowledge of materials, friction management and power transmission to improve the reliability and efficiency of industrial machinery and equipment all around the world. The company engineers, manufactures and markets mechanical components and high-performance steel. Timken® bearings, engineered steel bars and tubes—as well as transmissions, gearboxes, chain, related products and services—support diversified markets worldwide. With sales of $4.3 billion in 2013 and approximately 19,000 people operating from 28 countries, Timken makes the world more productive and keeps industry in motion.
SOURCE The Timken Company