Timken alters specialty steel pricing policy

Timken alters specialty steel pricing policy

Timken Latrobe, a subsidiary of Timken Company, announced that it will amend its pricing policy regarding specialty steel products. Effective with shipments as of April 1, 2005, the pricing policy will be changed to “price in effect at the time of shipment”. For customers affected by this policy, Timken will provisionally suspend its 50% cancellation charge during February. Prevailing raw material surcharges will continue to remain in effect.