TimkenSteel (NYSE: TMST), a leader in high-quality specialty steel, manufactured components, and supply chain solutions, today announced that its Board of Directors has authorized a share repurchase program under which the company may repurchase up to $50 million of its outstanding common shares. Additionally, the Board of Directors approved the capital expenditure budget for 2022 in the amount of $40 million. "These actions reflect the Board's and senior leadership's confidence in our ability to generate sustainable through-cycle profitability while maintaining a strong balance sheet and cash flow," said Mike Williams, president and chief executive officer. "Given our significant transformation over the past two years, we now have the financial flexibility to return capital to shareholders while also investing in the business to drive profitable growth. As such, we increased our 2022 capital expenditure budget to $40 million with over half dedicated to high return internal investment...

TimkenSteel Corp. (NYSE: TMST), a leader in high-quality specialty steel, manufactured components and supply chain solutions, announced today that its employees who are members of the United Steelworkers (USW) Local 1123 have voted in favor of a new four-year contract. "The company and union worked diligently to reach an agreement that continues to provide some of the area's best wages and benefits, while also addressing some of our long-term competitive challenges," said Mike Williams, president and chief executive officer. "Under this contract, we've worked together to help TimkenSteel more effectively manage some of our ongoing obligations while positioning us to remain one of the area's best employers." The contract, which is in effect until Sept. 27, 2025, offers TimkenSteel's Canton-based bargaining employees increases to base wages every year, competitive healthcare and retirement benefits for all members, and a continued focus on employee wellbeing as well as safe and...

TimkenSteel Corp. (NYSE: TMST), a leader in high-quality specialty steel, manufactured components and supply chain solutions, today announced environmental goals for 2030, a critical milestone in the evolution of the company's environmental, social and governance (ESG) program. TimkenSteel has established the following 2030 environmental goals, compared with a 2018 baseline: 40% absolute reduction in combined Scope 1 and Scope 2 greenhouse gas (GHG) emissions 30% absolute reduction in total energy consumption (direct and indirect) 35% absolute reduction in fresh water withdrawn 10% reduction in waste-to-landfill intensity These targets are supported by projects across the company's manufacturing, supply chain and corporate operations and are aligned with regional, national and international environmental priorities established by organizations such as the U.S. Environmental Protection Agency, the Task Force on Climate-Related Financial Disclosures (TCFD) and the Paris Climate Accords....

TimkenSteel Corp. (NYSE: TMST), a leader in high-quality specialty steel, manufactured components and supply chain solutions, and the United Steelworkers (USW) Local 1123 have reached a tentative agreement for a new four-year contract. The date of the vote will be set and announced by the union. "We have reached an agreement that keeps our employees earning some of the best wages and benefits in the region and industry while supporting the long-term viability of TimkenSteel," said Mike Williams, president and chief executive officer. "We're working together both to address the significant pressures we face from a highly competitive and ever-changing industry, and to keep our people working." The tentative agreement provides increases to base wages every year, competitive healthcare and retirement benefits for all members, and a continued focus on employee wellbeing as well as safe and sustainable operations. The current agreement covers approximately 1,180 bargaining employees at the...