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Latest News:
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Timken Workers Reject Agreement
Jan. 17, 2012 - Members of United Steelworkers Local 1123 based in Canton failed to ratify a tentative agreement between their bargaining representatives and Timken.
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Timken Posts Strong Quarter, Raises Full-Year Forecast
Oct. 28, 2011 - Timken reported $111 million income from continuing operations on sales of $1.3 billion for the third quarter and $345.2 million income from continuing operations on sales of $3.9 billion in the first nine months of 2011.
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Timken, UA to Accelerate Commercialization of Specialized Research
Aug. 26, 2011 - The University of Akron (UA) and The Timken Co. have announced an open-innovation agreement to accelerate technology development. The organizations plan to combine their expertise in materials and surface engineering at newly established laboratories in the UA College of Engineering.
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Timken Evaluates $225 Million Expansion at Faircrest
Aug. 25, 2011 - The Timken Co. is considering an investment of $225 million at its Canton, Ohio-based Faircrest Steel Plant that would increase capacity, expand product range, and strengthen competitiveness of Timken® alloy steel bars.
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Timken Posts Second Quarter Earnings
Jul. 29, 2011 - The Timken Co. reported $121.5 million income from continuing operations on sales of $1.3 billion for the second quarter of 2011.
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Timken, Partners Break Ground on Wind Energy R&D Center
Jul. 27, 2011 - Timken, Stark State College and the Stark County Port Authority officially broke ground this week on a Wind Energy Research and Development Center, America's first R&D center for large wind-turbine gearbox systems.
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Timken Recycles 1.6 Million Tons of Scrap Metal in 2010
Apr. 22, 2011 - In 2010, The Timken Co. transformed 1.6 million tons of scrap metal into Timken® steel, which is made from nearly 100% recycled content, including 350,000 tons of recycled scrap metal from Timken operations.
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Timken Acquires City Scrap and Salvage
Jan. 3, 2011 - Timken subsidiary TSB Metal Recycling LLC has purchased the assets of City Scrap and Salvage Co. of Akron, Ohio. City Scrap has been supplying Timken with ferrous scrap for more than 15 years.
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Timken Names New Leader of Global Quality
Dec. 9, 2010 - The Timken Co. has named Russell F. Folger as Vice President – Quality Advancement. He assumes the leadership role formerly held by Donna J. Demerling, who retires at the end of December after 38 years with the company.
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Timken to Invest $50 Million in Ohio Steel Plants
Aug. 13, 2010 - Timken announces plans to invest approximately $50 million for the installation of a new intermediate finishing line at its Gambrinus Steel Plant and expansion of the steel lay-down yard at the small-bar mill at its Harrison Steel Plant.
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Timken Named to List of Most Ethical Companies
Mar. 29, 2010 - The Timken Co. has been recognized as one of the World's Most Ethical Companies for 2010 by the Ethisphere Institute, an international organization focused on the advancement of best practices in business ethics, corporate responsibility, and sustainability.
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Timken Reports 2009 Results, 2010 Outlook
Feb. 3, 2010 - The Timken Co. reported a net loss of $20.2 million on sales of $774.6 million for the fourth quarter and a net loss of $134.0 million on sales of $3.1 billion for the year 2009.
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Timken Finalizes Sale of Needle Roller Bearings Business
Jan. 5, 2010 - The Timken Co. has completed the sale of its Needle Roller Bearings business to Japan’s JTEKT Corp. The business manufactures highly engineered needle roller bearings for automotive and industrial applications.
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Timken Board Elects New Director
Nov. 12, 2009 - The Timken board of directors has elected John M. Ballbach as a director of the company, for a term that expires at the company’s annual meeting in 2011.
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Timken Reports Third-Quarter Results
Oct. 30, 2009 - Timken reports a net loss of $50.1 million on sales of $763.6 million for the third quarter, and a net loss of $113.8 million on sales of $2.37 billion for the first nine months of 2009.
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Timken Collaborates with Daido to Expand in Asia
Sep. 3, 2009 - The Timken Co. is now able to more readily offer its high-performance, premium engineered steel solutions to customers in Asia thanks to an initial five-year agreement with Daido Steel Co. Ltd.
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Timken Reports 2nd Quarter Results
Jul. 31, 2009 - Timken reports a loss of $64.5 million on sales of $828.9 million for the second quarter, and a net loss of $63.6 million on sales of $1.79 billion for the first six months of 2009.
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Timken Expands Hot Rolled Tube Capabilities
Feb. 13, 2009 - Timken begins producing hot rolled seamless mechanical steel tubing up to a maximum outside diameter of 13 inches, making it the only North American manufacturer capable of producing hot rolled seamless mechanical tubing in this size range.
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Timken Reports Record Third-Quarter Earnings
Oct. 28, 2008 - Timken reports income from continuing operations of $130.4 million on record third-quarter sales of $1.48 billion for the third quarter, and net income of $303.8 million on sales of $4.45 billion for the first nine months of 2008.
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Timken Upgrades Third-Quarter, Full-Year Earnings Estimates
Oct. 1, 2008 - Timken raises its estimate for third-quarter 2008 earnings per diluted share, excluding special items, to $1.00 to $1.10 based on continued strong global industrial demand, its capacity-expansion initiatives, and declining scrap prices.
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Timken Reports Record 2nd-Quarter Results
Jul. 31, 2008 - Timken reports record net income of $88.9 million on record net sales of $1.54 billion for the second quarter, and net income of $173.4 million on net sales of $2.97 billion for the first six months of 2008.
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Timken to Increase Prices on SBQ Products
May 2, 2008 - Timken will increase base prices on hot-rolled, cold-finished and thermal-treated special bar quality products, effective with shipments beginning July 1.
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Timken Reports 2007 Results
Feb. 1, 2008 - Timken reports net income of 48.3 million on net sales of $1.3 billion for the fourth quarter, and net income of $220 million on net sales of $5.2 billion for all of 2007.
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Timken to Increase SBQ Product Prices
Oct. 22, 2007 - Timken plans to increase base prices on hot-rolled, cold-finished, and single-thermal-treated special bar quality products by $30 per ton.
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Timken Upgrades Repair Services in Canada
Aug. 23, 2007 - Timken completes an agreement with Weir Canada to be the authorized provider of Timken repair services for chock bearing maintenance and chock repair for metal manufacturing customers in Canada.
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Timken Realignment to Drive Growth, Performance
Aug. 14, 2007 - Timken will restructure the company into two divisions – a Steel Group and a new Bearings and Power Transmission Group - to support continued improvement in operational performance.
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Timken Bearings Equip Arcelor Mittal Steel Mill
Aug. 10, 2007 - Timken announces that it is the exclusive supplier of tapered, spherical and cylindrical roller bearings for Arcelor Mittal's new high-capacity hot-strip steel rolling mill currently under construction by Siemens in Krakow, Poland.
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Timken Joins Effort to Reduce Mercury Emissions
Aug. 3, 2007 - Timken announces its participation in the National Vehicle Mercury Switch Recovery Program, a program designed to reduce the levels of mercury emitted from automobile scrap used as raw material in the steelmaking process.
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Timken Steel Used in Collider Project for CERN Physics Lab
Jun. 29, 2007 - Timken provided steel with a particularly high hardness and high machinability that was used for the construction of equipment for the European Organization for Nuclear Research large particle physics laboratory located near Geneva, Switzerland.
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Timken Expands Long-Length Steel Tubing Size Capability
Jun. 8, 2007 - Timken has gained new sales after expanding its capabilities to produce long-length steel tubing to meet Houston-based Dril-Quip’s request for hot-rolled, quenched, and tempered seamless tubing in lengths up to 37 feet.
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Timken Reports 1st Quarter Results
Apr. 27, 2007 - Timken reports income from continuing operations of $41.6 million on sales of $1.28 billion during the first quarter of 2007.
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SMS Meer to Supply Precision Sizing Mill for Timken
Apr. 10, 2007 - The Timken Co. has placed an order with SMS Meer, Germany, for the expansion of its existing bar mill at the Harrison Steel Mill in Canton. Timken’s objectives for the project include extending the product size range, increasing mill capacity, and improving product quality.
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SMS Meer to Equip Timken Small-Bar Expansion
Mar. 19, 2007 - March 19, 2007 — The Timken Co. has announced German-based SMS Meer GmbH as the supplier of major equipment for its $60-million expansion of the small-bar rolling mill at the Harrison steel p
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Timken Further Expands Round Bar Capabilities
Mar. 7, 2007 - March 7, 2007 — The Timken Co. announced that it has further expanded its rolled carbon and alloy steel round bar capabilities. The additional capabilities—which enable the company to n
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Timken Reports 2006 Results
Feb. 8, 2007 - Feb. 8, 2007 — The Timken Co. announced net income of $35.3 million on sales of $1.2 billion for the fourth quarter, and net income of $222.5 million on sales of $5.0 billion for all of 2006.
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Timken Reports Record 2nd Quarter Results
Jul. 27, 2006 - July 27, 2006 — The Timken Co. today reported net income of $74.7 million on record sales of $1.39 billion for the second quarter, and net income of $140.6 million on sales of 2.
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Timken to Increase Specialty Steel Prices
Jun. 27, 2006 - June 27, 2006 — Timken Latrobe Steel will increase prices by 3 to 7 percent on all remelted aerospace alloys.
The company said that the price change would be effective i
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Timken Upgrades Earnings Estimates
Apr. 19, 2006 - April 19, 2006 — The Timken Co. increased its estimate for 2006 first quarter earnings per diluted share to approximately $0.70, up from $0.63 per diluted share for the same peri
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Timken Names Senior Technology Vice President
Dec. 8, 2005 - The Timken Co. announced the appointment of Alastair R. Deane as Senior Vice President — Technology, reporting to President and CEO James W. Griffith. Deane will lead Timken's global technology efforts in support of generating value and achieving the company's growth targets.
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Timken Latrobe to Increase Specialty Steel Prices
Nov. 22, 2005 - Timken Latrobe Steel announced it would increase prices by 3 to 8% on all remelted aerospace alloys. The price change will be effective immediately on all new inquiries and for all new orders received beginning Dec. 1, 2005.
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YTD Specialty Steel Imports Continue to Exceed YTD 2004 Totals
Oct. 11, 2005 - Total stainless steel imports grew to 399,708 tons through July 2005, a 13% increase* compared to the first seven months of 2004, according to the latest statistical data released by the Specialty Steel Industry of North America (SSINA). As imports continued to climb, U.S. stainless steel consumption dropped slightly to 1,361,595 tons, a 4% decreased compared to the comparable 2004 period.
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Timken Acquires Bearing Inspection Group
Oct. 7, 2005 - The Timken Co. announced the acquisition of Bearing Inspection, Inc. (Bii), a leading independent provider of aerospace bearing inspection and reconditioning services. Terms of the acquisition, which Timken expects to be accretive during the first year of ownership, were not disclosed.
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Ohio Steel Producers Report First Half Results
Oct. 4, 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.
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Timken to Increase Steel Bar and Seamless Tubing Prices
Sep. 21, 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.
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Stainless Steel Imports Continue to Outpace 2004 Totals
Aug. 31, 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.
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Timken Names New Senior Executives
Aug. 22, 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.
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YTD Specialty Steel Imports Continue to Climb
Aug. 2, 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).
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Timken Reports Record 2nd Quarter Results
Jul. 29, 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.
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Stainless Steel Imports Jump 26% Ahead of Year-to-Date 2004 Totals
Jul. 11, 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.
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Timken Contracted to Develop Advanced Bearing Technology
Jul. 1, 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.
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First Quarter Stainless Steel Imports Climb 37% Higher than 2004
Jun. 14, 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.
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AIST Announces 2005-2006 Officers
Jun. 9, 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.
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Timken Latrobe to Increase Specialty Steel Prices
May 31, 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.
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Timken Announces New Vice Chairman
Apr. 20, 2005 - The Timken Co.’s Board of Directors has elected Ward J. ("Tim") Timken Jr. to the position of Vice Chairman — Board of Directors.
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Timken to Increase Seamless Tubing Prices
Apr. 8, 2005 - The Timken Corp. announced it will increase prices on seamless tubular steel products effective with shipments from July 1, 2005 until further notice.
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Timken Raises Earnings Expectations
Apr. 1, 2005 - The Timken Co. announced increased earnings expectations for the first quarter and full year, based on strong industrial market demand, price increases, raw material surcharges and increased productivity.
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Timken Latrobe to Increase Aerospace Steel Prices
Mar. 15, 2005 - Timken Latrobe Steel will increase prices by 5 to 10% on all remelted aerospace alloys and air melt stainless steel grades. The price change will be effective with all new orders received beginning March 15, 2005. Raw material surcharges will remain in effect.
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Timken Latrobe to Modify Specialty Steel Pricing Policy
Feb. 1, 2005 - Timken Latrobe Steel is changing its pricing policy to ‘price in effect at time of shipment’ to select market segments, effective with shipments on April 1, 2005. Timken Latrobe will temporarily suspend its 50% cancellation charge during the month of February on any planned orders to customers affected by this policy change.
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Timken Increases 2004 Earnings Estimate
Jan. 14, 2005 - The Timken Co. is increasing its 2004 earnings estimate, excluding special items, to $1.30 to $1.35 per diluted share, which compares to a previous estimate of $1.20 to $1.25.
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Timken Latrobe to Increase Aerospace Specialty Steel Prices
Jan. 12, 2005 - Timken Latrobe Steel announced it would increase prices by 5 to 15% on all remelted aerospace alloys and air melt stainless steel grades. The price change will be effective with all new orders received beginning January 17, 2005. Raw material surcharges will remain in effect.
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Timken Reports 3rd Quarter Results
Nov. 4, 2004 - The Timken Co. announced net earnings of $17.5 million on sales of $1.1 billion for the third quarter, and net income of $71.3 million on sales of $3.3 billion for the first nine months of 2004.
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MultiServ Logs Two Multi-Year Contracts
Nov. 1, 2004 - Worldwide industrial services and products company Harsco Corp. announced that its MultiServ mill services division has been awarded multi-year contracts totaling more than $15 million in projected new revenues over their duration for on-site mill services at two specialty steel plants in the U.S. and UK.
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Timken Latrobe to Increase Tool Steel Prices
Oct. 21, 2004 - Timken Latrobe Steel will increase prices by 6 to 8% on rounds, plate and flats tool steel and alloy products. The price change is effective with shipments beginning on November 1, 2004.
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Timken Latrobe to Increase Specialty Steel Prices
Sep. 29, 2004 - Timken Latrobe Steel will increase base prices by an average of 8% on all air melted and remelted noncontract aerospace alloy steel grades. The price change is effective with all new orders received beginning on October 1, 2004.
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Timken and Union Begin Discussions over Announced Plant Closures
Jun. 16, 2004 - The Timken Co. and United Steelworkers union met earlier this week to begin the effects bargaining process involving the Canton bearing plants. The parties also agreed to explore the possibility of opening formal negotiations for the current labor contract over the next few weeks.
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Timken to Increase Tubing Steel Prices
Jun. 9, 2004 - The Timken Corp. announced it would increase prices on tubular steel products by 3-1/2 to 10%, depending on size, grade and finish of the steel. Double thermal-treated products will increase an additional 2%.
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Timken to Increase Specialty Steel Prices
Jun. 8, 2004 - Timken Latrobe Steel announced it would increase prices by 4% on all air-melt stainless and remelted aerospace alloy steel grades. The price change is effective with all new orders received. Raw material surcharges will remain in effect.
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