TimkenSteel
Latest News
Ohio Steel Producers Report First Half Results
04 October 2005 - Ohio steelmakers posted moderately strong production and shipping figures for the first half of 2005, even as the market struggled to emerge from an inventory correction that began before the end of 2004.
Timken to Close Clinton Plant as Part of Automotive Group Restructuring
22 September 2005 - The Timken Co. announced plans to close its Clinton, S.C., plant. Production at the plant, which manufactures components and bearings for automotive powertrain and chassis applications, will be phased down over the next two years.
Timken to Increase Steel Bar and Seamless Tubing Prices
21 September 2005 - The Timken Corp. announced it will increase non-contract base prices for steel bar products by $25 per ton for all sizes and grades of carbon and alloy steel bars. Thermal treatment pricing extras will be increased by $30 per ton.
Timken and Steelworkers Union Reach New Agreement
16 September 2005 - The Timken Co. and the steelworkers union have reached a new, four-year labor agreement.
Stainless Steel Imports Continue to Outpace 2004 Totals
31 August 2005 - Total stainless steel imports climbed to 344,014 tons through the first six months of 2005 — a 15% increase compared to the same period in 2004 — according to the latest data released by the Specialty Steel Industry of North America (SSINA). As imports climbed, U.S. consumption remained steady at 1,168,282 tons, 3% below domestic consumption for the first six months of 2004.
Timken Names New Senior Executives
22 August 2005 - The Timken Co. announced that Donna J. Demerling has been named Senior Vice President — Quality and Lean Six Sigma. Ms. Demerling, who was previously Senior Vice President — Supply Chain Transformation, will report to James W. Griffith, President and CEO.
Timken Elects Chairman, Steel Group President
08 August 2005 - The Timken Co.’s board of directors has named Ward J. "Tim" Timken Jr. Chairman, effective August 15.
YTD Specialty Steel Imports Continue to Climb
02 August 2005 - Total stainless steel imports rose to 286,403 tons through the first five months of 2005 — a 19% increase compared to the same period in 2004 — according to the latest data released by the Specialty Steel Industry of North America (SSINA).
Timken Reports Record 2nd Quarter Results
29 July 2005 - The Timken Co. reported net income of $67.3 million on sales of $1.3 billion for the second quarter of 2005. Results reflect a 17% increase in sales and more than doubling of earnings per share compared to a year ago.
Timken Chairman to be Nominated U.S. Ambassador to Germany
20 July 2005 - The AIST Foundation has announced the 2005-2006 scholarship recipients for the following endowed scholarships.
Stainless Steel Imports Jump 26% Ahead of Year-to-Date 2004 Totals
11 July 2005 - Total stainless steel imports climbed to 234,130 tons through the first four months of 2005 — a 26% increase compared to the same period in 2004 — according to the latest data released by the Specialty Steel Industry of North America (SSINA). As imports climbed, U.S. consumption remained flat at 800,512 tons, bringing four-month import penetration to 29%, a six percentage point increase compared to the same period in 2004.
Timken Contracted to Develop Advanced Bearing Technology
01 July 2005 - Timken has been awarded additional orders under an existing $20 million U.S. Air Force contract for hybrid bearing development. Worth approximately $7 million, the new orders focus on the quality assurance of rolling elements and new cage materials for bearings that will be used in current and next-generation gas turbine aircraft engines.
First Quarter Stainless Steel Bar and Rod Imports Raise Red Flags
14 June 2005 - The dramatic increase in imports and import penetration of stainless steel bar and rod in the first quarter of 2005 raises red flags for U.S. producers, according to the Specialty Steel Industry of North America (SSINA).
First Quarter Stainless Steel Imports Climb 37% Higher than 2004
14 June 2005 - Total stainless steel imports reached 182,350 tons through the first quarter of 2005 — 37% higher than the first quarter of 2004 — according to the latest statistical data released by the Specialty Steel Industry of North America (SSINA). Total specialty steel imports (including stainless, electrical, and tool steels) were 39% higher than the first quarter of 2004.
AIST Announces 2005-2006 Officers
09 June 2005 - June 9, 2005 — The Association for Iron & Steel Technology (AIST) announced that Richard E. O’Hara, Director of Procurement and Logistics for Carpenter Specialty Alloys, Reading, Pa, has been elected as the association’s President for 2005-2006. He replaces outgoing President Thomas C. Graham Jr., Vice President, T.C. Graham & Associates, Mason, Ohio.
Timken Honored with Delphi Pinnacle Award
07 June 2005 - Timken has been honored with the first-ever Delphi Pinnacle Award for Supplier Excellence.
Timken Latrobe to Increase Specialty Steel Prices
31 May 2005 - Timken Latrobe Steel announced it would increase prices by 5 to 10% on all remelted aerospace alloys, air melt stainless steel and tool steel grades, effective with all new orders received beginning June 1, 2005.
Timken Latrobe Steel Completes Mill Upgrade Project
29 April 2005 - Timken Latrobe Steel held an inaugural ceremony this week to launch the upgraded continuous rolling mill at its Latrobe, Pa., plant.
Timken Earns General Motors 2004 Supplier of the Year
26 April 2005 - The Timken Corp. has been named as a General Motors Supplier of the Year for its overall business performance in providing GM with world-class parts and services.
Timken Announces New Vice Chairman
20 April 2005 - The Timken Co.’s Board of Directors has elected Ward J. ("Tim") Timken Jr. to the position of Vice Chairman — Board of Directors.
