LATROBE, PA — Timken Latrobe Steel, a subsidiary of The Timken Co., is changing its pricing policy to “price in effect at time of shipment” to select market segments, effective with shipments on April 1.
Timken Latrobe Steel said it will temporarily suspend its cancellation charge of 50 percent during the month of February on any planned orders to customers affected by this policy change. Raw material surcharges will continue to remain in effect.
“This change in policy will enable Timken Latrobe to increase the speed of various planned capital projects to better service the demands being placed on the specialty steel industry. In addition, this policy change will better align Timken Latrobe with some of the market segments we serve,” said Hans Sack, president of Timken Latrobe Steel.
Timken Latrobe Steel is a leading specialty steel producer in North America.
For more information, go to: www.timken.com.
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