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.

The meeting was productive and the parties will be focusing on opportunities to lessen the impact on employment involving the recent closure announcement of the Canton bearing plants.

The Timken Co. is a leading global manufacturer of highly engineered bearings and alloy steels and a provider of related products and services with operations in 27 countries. A Fortune 500 company, Timken recorded 2003 sales of $3.8 billion and employed approximately 26,000 at year-end.