May 27, 2005
Timken Latrobe Steel, a subsidiary of The Timken Co., announced it would increase prices by 5 to 10 percent on all remelted aerospace alloys, air melt stainless steel, and tool steel grades. The price change will be effective with all new orders received beginning June 1, 2005. Raw material surcharges will remain in effect.
"This price increase will enable us to recover the increasing operational costs caused by several key factors, including higher costs for energy and manufacturing supplies, that we are experiencing throughout our entire manufacturing process," said Hans J. Sack, president–Timken Latrobe Steel.