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TIMKEN CO: To Hike Carbon & Alloy Tubing Prices on April 1
The Timken Company will increase prices on carbon and alloy seamless mechanical tubing by up to 15 percent, depending on the size and product specification. This price increase is effective with shipments beginning on April 1, 2008.
Headquartered in Canton, Ohio, The Timken Company (NYSE: TKR) -- http://www.timken.com/ -- is a manufacturer of highly engineered bearings and alloy steels. It also provides related components and services such as bearing refurbishment for the aerospace, medical, industrial and railroad industries. The company has operations in Argentina, Australia, Belgium, Brazil, Canada, China, Czech Republic, England, France, Germany, Hungary, India, Italy, Japan, Korea, Mexico, Netherlands, Poland, Romania, Russia, Singapore, South America, Spain, Taiwan, Turkey, United States, and Venezuela and employs 27,000 employees.
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The Timken Company still carries Moody's Investors Service's Ba1 senior unsecured deb rating on US$300 million Medium Term Notes, Series A.
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