Timken Latrobe Steel announced it would increase prices by 5% on all high speed steel products.

"Continued rising raw material costs and other key factors are reasons for this price increase," said David A. Murray, Vice President—Sales and Marketing for Timken Latrobe Steel.

The price change is effective with shipments beginning on December 1, 2004. Raw material surcharges will remain in effect.

Timken Latrobe Steel is a leading specialty steel producer in North America. 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.