Timken Receives Disbursement Under U.S. Trade Law
12/05/2005 - The Timken Co. has received approximately $81 million under the U.S. Continued Dumping and Subsidy Offset Act (CDSOA) for 2005.
The Timken Co. has received approximately $81 million under the U.S. Continued Dumping and Subsidy Offset Act (CDSOA) for 2005.
CDSOA provides the authority for U.S. Customs to distribute antidumping duties directly to U.S. producers harmed by unfair trade that have continued to invest in their technology, equipment and people. A leading provider of friction management and power transmission solutions, Timken received a distribution under CDSOA based on the company's consistent investments to remain competitive in the face of continued dumping of bearings.
Timken says it will apply the entire amount toward funding the company's U.S. pensions.