Timken Latrobe Steel, a subsidiary of The Timken Company, announced it would increase prices by 5 percent on High Speed Steel products.
The price change is effective with the new orders received beginning June 1, 2004. Raw material surcharges will remain in effect.
"Continued higher production costs in the form of scrap and energy are key factors in this price increase," said David A. Murray, vice president-sales and marketing-Timken Latrobe Steel. "We are continuing with our efforts to try to offset these costs."