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11.22.17 TimkenSteel, United Steelworkers Reach Another Tentative Agreement for New Four-Year Contract
TimkenSteel and the United Steelworkers (USW) Local 1123 have reached a third tentative agreement on a four-year contract. The union will set and announce the date for its membership to vote on the tentative agreement. "From the start of these contract discussions, we have worked with union leadership to convey the competitive pressures we continue to face, and to reach an agreement with those representatives that take into consideration today's marketplace while still giving our employees some of the best wages and benefits in Stark County ," said Bill Bryan , TimkenSteel's executive vice president of manufacturing & supply chain. "Before casting their vote, our bargaining employees will have a chance to attend information sessions and understand in more detail the tentative agreement, which keeps TimkenSteel as one of the area's best places to work. In the meantime, we will continue to focus on serving our customers without interruption." The tentative agreement provides...
11.21.17 TimkenSteel to Present at Cowen Energy & Natural Resources Conference
TimkenSteel Corporation (NYSE: TMST, www.timkensteel.com ), a leader in customized alloy steel products and services, will present at the Cowen Energy & Natural Resources Conference on Tuesday, Dec. 5 at approximately 9:40 a.m. EST in New York . Christopher J. Holding , executive vice president and chief financial officer, will address the conference. A live webcast of the presentation and supplemental materials will be available for viewing at investors.timkensteel.com. A recorded replay of the webcast will be retained via the same link until Dec. 31. About TimkenSteel Corporation TimkenSteel (NYSE:TMST, timkensteel.com ) creates tailored steel products and services for demanding applications, helping customers push the bounds of what's possible within their industries. The company reaches around the world in its customers' products and leads North America in large alloy steel bars (up to 16 inches in diameter) and seamless mechanical tubing made of its special bar quality (SBQ)...
11.21.17 TimkenSteel to Increase Prices on Seamless Mechanical Tubing
TimkenSteel (NYSE: TMST, timkensteel.com ), a leader in customized alloy steel products and services, today announced it will increase prices on seamless mechanical tubing products by $40 per ton.  This increase is applicable to orders not already covered by pricing agreements, and effective for shipments beginning April 1 , 2018.  All surcharge mechanisms remain in effect. About TimkenSteel Corporation TimkenSteel (NYSE:TMST, timkensteel.com) creates tailored steel products and services for demanding applications, helping customers push the bounds of what's possible within their industries. The company reaches around the world in its customers' products and leads North America in large alloy steel bars (up to 16 inches in diameter) and seamless mechanical tubing made of its special bar quality (SBQ) steel, as well as supply chain and steel services. TimkenSteel operates warehouses and sales offices in five countries and has made its steel in America for 100 years. The company posted...
11.16.17 Second Tentative Agreement Between TimkenSteel, United Steelworkers Voted Down
TimkenSteel employees who are members of the United Steelworkers (USW) Local 1123 have failed to ratify a second tentative agreement between their bargaining representatives and the company. "We're extremely disappointed because both the company and the union returned to the bargaining table a few weeks ago and once again worked hard to arrive at a fair and realistic agreement focused on benefitting our employees and the community," said Bill Bryan , TimkenSteel's executive vice president of manufacturing and supply chain. "The agreement, which was voted down despite recommendation from the union's bargaining committee, offered our employees the ability to continue to earn some of the best wages and benefits packages in Stark County , while allowing TimkenSteel to stand stronger against the significant competitive pressures the company faces as an independent steel producer in today's global marketplace." The tentative agreement that was not ratified in today's vote offered...
11.10.17 TimkenSteel Accepts American Legion National Large Employer of Veterans Award During Event Recognizing Company's Veteran Workforce
TimkenSteel Corporation (NYSE: TMST, www.timkensteel.com ), a leader in customized alloy steel products and services, was honored to accept The American Legion Large Employer of Veterans Award at an annual company breakfast held this morning to recognize members of its workforce who are military veterans. The company is the leading employer of veterans in Stark County and one of the leading employers in Ohio , with more than 13 percent of its workforce having served in the military. "Today was about thanking our employees who have served our country, and it's an event we look forward to every year. We all appreciated the honor of having the American Legion and partner agencies join us to recognize our efforts at TimkenSteel to attract and retain such a large number of military veterans in our workforce," said Elaine Russell Reolfi , executive vice president of organizational advancement and corporate relations, who accepted the award on behalf of TimkenSteel . "Military veterans are a...
11.10.17 TimkenSteel, United Steelworkers Reach Second Tentative Agreement for New Four-Year Contract
TimkenSteel and the United Steelworkers (USW) Local 1123 have reached a second tentative agreement on a four-year contract. The union will set and announce the date for its membership to vote on the tentative agreement. "We have continued to meet and work with union representatives over the past few weeks to arrive at an agreement that benefits our employees as well as our community," said Bill Bryan , TimkenSteel's executive vice president of manufacturing & supply chain. "We remain focused on upholding TimkenSteel's position as an employer of choice in Stark County and keeping our people working, while at the same time addressing the competitive pressure we face as an independent steel company operating in a global marketplace." The tentative agreement provides increases to permanent base wages every year, bonus opportunities, high-quality healthcare and retirement benefits for all members, and a continued focus on safety and employee wellbeing. The USW Local 1123 represents...
11.02.17 TimkenSteel Brings New Quench-and-Temper Facility Online; Increases Annual Heat-Treat Capacity by 50,000 Tons
TimkenSteel (NYSE: TMST, timkensteel.com ), a leader in customized alloy steel products and services, has brought its newest thermal-treatment asset, the advanced quench-and-temper facility, online and has begun processing customer orders. The addition of the $40 million facility, located at the company's Gambrinus Steel Plant in Canton, Ohio , increases TimkenSteel's existing quench-and-temper capacity by 50,000 tons or 45 percent and brings the company's total annual thermal-treatment capacity to 500,000 process tons. "We're pleased to bring this newest asset online now that market demand for thermal-treated bars and tubes has increased," said Tom Moline , executive vice president of commercial operations. "The advanced quench-and-temper facility is the largest of our four thermal-treatment facilities, and enables us to meet customer needs faster and at more precise specifications. In addition to servicing automotive applications, this will be especially beneficial for our oil and...
10.26.17 TimkenSteel Announces Third-Quarter 2017 Earnings; Shows Significant Year-Over-Year Improvement
TimkenSteel (NYSE: TMST) (timkensteel.com), a leader in customized alloy steel products and services, today reported third-quarter net sales of $339.1 million , compared with net sales of $213.8 million in the same quarter last year and $339.3 million in the second quarter of 2017. The company reported a net loss of $5.9 million or minus $0.13 per share for the third quarter of 2017, compared with a net loss of $22.2 million or minus $0.50 per share in the same quarter last year, and net income of $1.3 million or $0.03 per diluted share in the second quarter of 2017. Adjusted EBITDA (1) for the third quarter was $18.8 million , compared with adjusted EBITDA (1) of $7.8 million in the same quarter last year and EBITDA of $24.7 million in the second quarter of 2017, which included a favorable $4.9 million supplier refund. The improvement over the prior year was driven primarily from recovering energy and industrial end-market demand, new business and favorable raw material spread. "With...
10.23.17 TimkenSteel Introduces New Endurance Steels: Clean Technology Focused on Making Gears Last Longer, Perform Better
TimkenSteel's Endurance family of steels includes three new, patent-pending, ultra-high-strength, high-toughness grades; offers gear manufacturers the ability to achieve lighter weight, longer life and/or more power. For 100 years, TimkenSteel (NYSE: TMST, www.timkensteel.com ) has created some of the cleanest and best-performing special bar quality (SBQ) steel in the industry. Today, the company offers customers more than 500 grades, including its new Endurance product line, which is being introduced at this week's Gear Expo in Columbus, Ohio . This family of Endurance steels, comprised of both TimkenSteel's existing high-strength and/or high-toughness grades as well as three new, patent-pending, ultra-high-strength, high-toughness steels, results from close collaboration with a broad range of industrial, oil and gas and automotive customers to achieve enhanced performance in extremely demanding applications. "We've always been a leader in developing high-performance steels, and now...
10.20.17 Tentative Agreement Between TimkenSteel, United Steelworkers Voted Down
TimkenSteel employees who are members of the United Steelworkers (USW) Local 1123 have failed to ratify a tentative agreement between their bargaining representatives and the company. "We're disappointed because both the company and the union worked hard to arrive at a fair agreement intended to benefit our customers, our employees and the community," said Bill Bryan , TimkenSteel's executive vice president of manufacturing & supply chain.  "We anticipate we will be back in discussions with the USW within the next few days." The tentative agreement that was not ratified in today's vote offered TimkenSteel's Canton-based bargaining employees annual increases to base wages, competitive healthcare and retirement benefits for all members, as well as a continued focus on operating safety and employee wellbeing. The USW Local 1123 represents approximately 1,650 employees at the company's facilities in Canton, Ohio . Additional information can be found at www.timkensteel.com/agreement....
10.04.17 TimkenSteel to Announce Third-Quarter 2017 Financial Results on October 26
TimkenSteel Corp. (NYSE: TMST, timkensteel.com ) will release its 2017 third-quarter financial results on Thursday, Oct. 26 , after the market closes on the New York Stock Exchange . The company will host a conference call at 9 a.m. ET on Friday, Oct. 27 , to discuss its financial performance with investors and securities analysts. The financial results and conference call materials will be available online at investors.timkensteel.com . TimkenSteel Earnings Call Information: Conference Call Friday, Oct. 27, 2017 9 a.m. ET Toll-free dial-in: 866-393-4306 International dial-in: 734-385-2616 Conference ID: 93297451 Conference Call Replay Replay dial-in available through Nov. 3, 2017 855-859-2056 or 404-537-3406 Replay passcode: 93297451 About TimkenSteel Corporation TimkenSteel (NYSE:TMST, timkensteel.com) creates tailored steel products and services for demanding applications, helping customers push the bounds of what's possible within their industries. The company reaches around the...
10.03.17 TimkenSteel, United Steelworkers Reach Tentative Agreement for New Four-Year Contract
TimkenSteel and the United Steelworkers (USW) Local 1123 have reached a tentative agreement for a new four-year contract and, in the coming week, will finalize documentation of a formal agreement for presentation and ratification by the represented workforce. The date of the vote will be set and announced by the union. "We have reached an agreement that ensures our employees continue to earn some of the best wages in the region and in the steel industry nationally," said Bill Bryan , TimkenSteel's executive vice president of manufacturing & supply chain. "We're working together both to address the significant competitive pressures we face from global steel overcapacity and to keep our people working." The tentative agreement provides increases to permanent base wages every year, competitive healthcare and retirement benefits for all members, and a continued focus on operating safety and employee wellbeing. The USW Local 1123 represents approximately 1,650 employees at the...
09.11.17 TimkenSteel Names Leaders for Commercial Operations
CANTON, Ohio: September 11, 2017 — TimkenSteel (NYSE: TMST, timkensteel.com ), a leader in customized alloy steel products and services, today announced leadership changes in commercial operations. Tim Haubenstricker has been named vice president of sales, and Rob Feielin has been appointed vice president of business development and product management. “These changes will allow our team to continue focusing on serving our customers’ most demanding applications while also stretching our new assets to serve additional opportunities,” said Tom Moline, executive vice president for commercial operations. “Both Tim and Rob are longtime TimkenSteel employees and have a deep understanding of our business and commitment to customers.” Since joining the company 32 years ago, Haubenstricker has held numerous leadership roles within the sales organization, with his most recent position being vice president, mobile. The sales organization for all areas will report to him in his new role, and that...
08.16.17 TimkenSteel to Increase Prices on Special Bar Quality, Seamless Mechanical Tubing Products
CANTON, Ohio: August 16, 2017 — TimkenSteel (NYSE: TMST, timkensteel.com ), a leader in customized alloy steel products and services, today announced it will increase prices on special bar quality (SBQ) and seamless mechanical tubing products by $40 per ton.  These increases are for orders not already covered by pricing agreements, and effective for shipments beginning Oct. 1, 2017 for special bar quality (SBQ) and January 1, 2018 for seamless mechanical tubing products.  All surcharge mechanisms remain in effect. About TimkenSteel Corporation TimkenSteel (NYSE:TMST, timkensteel.com ) creates tailored steel products and services for demanding applications, helping customers push the bounds of what's possible within their industries. The company reaches around the world in its customers' products and leads North America in large alloy steel bars (up to 16 inches in diameter) and seamless mechanical tubing made of its special bar quality (SBQ) steel, as well as supply chain...
08.14.17 TimkenSteel and United Steelworkers Local 1123 to Begin Contract Discussions on Aug. 21
CANTON, Ohio: August 14, 2017 — TimkenSteel (NYSE: TMST) (timkensteel.com) and the United Steelworkers will begin discussions on August 21 regarding the current labor agreement that is set to expire on September 25. The current agreement covers approximately 1,650 bargaining employees at the company’s Canton, Ohio operations. “TimkenSteel is committed to reaching an agreement that is fair and equitable to both the company and union prior to the expiration of the current contract,” said Bill Bryan, executive vice president of manufacturing & supply chain. Consistent with prior practice, the company will reserve further comment until discussions are complete, although periodic updates will be posted on www.timkensteel.com/agreement . About TimkenSteel Corporation TimkenSteel (NYSE:TMST) ( timkensteel.com ) creates tailored steel products and services for demanding applications, helping customers push the bounds of what's possible within their industries. The company reaches around...
07.31.17 TimkenSteel Announces Second-Quarter 2017 Results
Company performance continues to improve TimkenSteel (NYSE: TMST) (timkensteel.com), a leader in customized alloy steel products and services, today reported second-quarter net sales of $339 .3 million and net income of $1.3 million or $0.03 per diluted share.  This compares with net sales of $223.1 million and a net loss of $6.6 million or minus $0.15 per share in the same quarter last year, and net sales of $309.4 million and a net loss of $5.3 million or minus $0.12 per share in the first quarter of 2017. EBITDA (1) for the second quarter was $24.7 million , compared with EBITDA (1) of $10 .2 million in the same quarter last year and $17.5 million in the first quarter of 2017.  The improvement over the prior year was driven primarily by additional volume and the favorable timing impact from raw material spread, as well as a $4.9 million supplier refund related to prior periods.  Sequentially, EBITDA (1) , excluding the one-time refund, increased $2.3 million as a result of...
07.17.17 TimkenSteel Names Leaders for Commercial, Manufacturing Operations
CANTON, Ohio: July 17,  2017 — TimkenSteel (NYSE: TMST) ( timkensteel.com ), a leader in customized alloy steel products and services, today announced leadership changes in commercial and manufacturing operations. Shawn Seanor, executive vice president of sales and business development, has announced his retirement. Tom Moline is assuming the role of executive vice president of commercial operations. Bill Bryan has been named executive vice president of manufacturing and supply chain. “I speak for the entire organization in thanking Shawn for his contributions over 33 years of distinguished service. Shawn has helped strengthen our leadership in niche markets that value our clean steel and has built strong personal and technical relationships with our customers,” said Tim Timken, chairman, CEO and president. “Tom and Bill worked closely with Shawn over the last year in developing a broader growth strategy for the company. These leadership changes will further fuel the execution of...
07.11.17 TimkenSteel to Announce Second-Quarter 2017 Financial Results on August 1
TimkenSteel Corp. (NYSE: TMST, timkensteel.com ) will release its 2017 second-quarter financial results on Monday, July 31 , after the market closes on the New York Stock Exchange . The company will host a conference call at 9 a.m. EDT on Tuesday, Aug. 1 , to discuss its financial performance with investors and securities analysts. The financial results and conference call materials will be available online at investors.timkensteel.com . TimkenSteel Earnings Call Information:
Tuesday, Aug. 1, 2017 9 a.m. EDT Conference Call Toll-free dial-in: 877-201-0168
International dial-in: 647-788-4901 Conference ID: 49209169
Replay dial-in available through Aug. 8, 2017 Conference Call Replay 800-585-8367 or 416-621-4642 Replay passcode: 49209169 About TimkenSteel Corporation TimkenSteel (NYSE:TMST, timkensteel.com ) creates tailored steel products and services for demanding applications, helping customers push the bounds of what's possible within their industries. The...
04.27.17 TimkenSteel Announces First-Quarter 2017 Results; Shipments Increase with Growing Demand
TimkenSteel (NYSE: TMST) (timkensteel.com), a leader in customized alloy steel products and services, today reported first-quarter net sales of $309 .4 million and a net loss of $5.3 million or minus 12 cents per share.  This compares with net sales of $217.9 million and a net loss of $9.7 million or minus 22 cents per share in the same quarter last year, and net sales of $214.7 million and a net loss of $67.0 million or minus $1.52 per share in the fourth quarter of 2016. As noted previously, fourth-quarter 2016 results included $59.3 million in expense from mark-to-market accounting for pension and other post-employment benefit plans. EBITDA (1) for the first quarter was $17.5 million , compared with EBITDA (1) of $4.6 million in the same quarter last year and adjusted EBITDA (1) of $1.4 million in the fourth quarter 2016.  The improvement was driven primarily by the favorable timing impact from raw material spread, focused execution of cost reduction tactics and additional volume....
04.26.17 TimkenSteel to Increase Prices on Special Bar Quality Products
CANTON, Ohio: April 25, 2017 — TimkenSteel (NYSE: TMST, timkensteel.com ), a leader in customized alloy steel products and services, today announced it will increase prices on special bar quality (SBQ) products by $40 per ton. This increase is applicable to orders not already covered by pricing agreements, and effective for shipments beginning June 5, 2017. All surcharge mechanisms remain in effect. About TimkenSteel Corporation TimkenSteel (NYSE:TMST, timkensteel.com ) creates tailored steel products and services for demanding applications, helping customers push the bounds of what's possible within their industries. The company reaches around the world in its customers' products and leads North America in large alloy steel bars (up to 16 inches in diameter) and seamless mechanical tubing made of its special bar quality (SBQ) steel, as well as supply chain and steel services. TimkenSteel operates warehouses and sales offices in five countries and has made all of its steel in America...
04.13.17 TimkenSteel Corporation Announces Preliminary Results for First-Quarter 2017
TimkenSteel (NYSE: TMST) (timkensteel.com), a leader in customized alloy steel products and services, today reported that it expects first-quarter net sales of approximately $309 million on 280,000 ship tons and a net loss of approximately $5 million , as compared with fourth-quarter 2016 net sales of $215 million and a net loss of $67 million. The company expects EBITDA for the quarter to be approximately $17 million , which is lower than its original guidance.  TimkenSteel will release full financial results for the first quarter on Thursday, April 27 . "Quarter-over-quarter sales have increased by about 45 percent primarily due to increasing demand and new business. The sequential improvement in structural EBITDA was about $15 million, which is significant, although below our original expectations due to the timing of capturing manufacturing leverage," said Tim Timken, chairman, CEO and president. "As we ramp production, we're hiring to increase capacity to serve rebounding demand...
04.12.17 TimkenSteel Receives API-5CT Certification to Better Serve Customers in Oil and Gas Industry
TimkenSteel has added another quality certification to its list of credentials, receiving its American Petroleum Institute (API) Q1 certification in March. In addition, API has granted the company a license to apply the API 5CT monogram / number on TimkenSteel's alloyed seamless mechanical tubing products that fully comply with the specification requirements defined in API 5CT. The certification, which is one of the most prestigious in the oil and gas industry, will give customers added assurance that TimkenSteel tubular products bearing the API-5CT monogram have been manufactured and tested to withstand the rigorous demands presented by the harsh environments of the oilfield. "TimkenSteel provides customers with 100 percent made-to-order steel to meet their most demanding applications," said Ray Fryan, TimkenSteel's vice president of technology and quality. "We were already a single point for material, heat treat, machining and testing. Now, with the API Q1 certification and 5CT...
04.04.17 TimkenSteel to Announce First-Quarter 2017 Financial Results on April 27
TimkenSteel Corp. (NYSE: TMST, timkensteel.com ) will release its 2017 first-quarter financial results on Thursday, April 27 , after the market closes on the New York Stock Exchange . The company will host a conference call at 9 a.m. EDT on Friday, April 28, to discuss its financial performance with investors and securities analysts. The financial results and conference call materials will be available online at investors.timkensteel.com. TimkenSteel Earnings Call Information: Conference Call Friday, April 28, 2017 9 a.m. EDT Toll-free dial-in: 877-201-0168 International dial-in: 647-788-4901 Conference ID: 3228265 Conference Call Replay Replay dial-in available through May 12, 2017 800-585-8367 or 416-621-4642 Replay passcode:  3228265 Live Webcast investors.timkensteel.com About TimkenSteel Corporation TimkenSteel (NYSE:TMST, timkensteel.com) creates tailored steel products and services for demanding applications, helping customers push the bounds of what's possible within their...
02.16.17 TimkenSteel Announces Fourth-Quarter and Full-Year 2016 Results
TimkenSteel (NYSE: TMST, timkensteel.com), a leader in customized alloy steel products and services, today reported fourth-quarter net sales of $214.7 million and a net loss of $67 .0 million or minus $1.52 per share.  This compares with net sales of $206.6 million and a net loss of $13.8 million or minus 31 cents per share in the same quarter last year, and net sales of $213.8 million and a net loss of $22.2 million or minus 50 cents per share in the third quarter of 2016. For the full year, net sales were $869.5 million and net loss was $105.5 million or minus $2.39 per share. This compares with net sales of $1,106.2 million and a net loss of $45.0 million or minus $1.01 per share for full-year 2015. Fourth-quarter and full-year 2016 results include the impact of the adoption of the mark-to-market method of accounting for pension and other post-employment benefit (OPEB) plans.  This method recognizes actuarial gains or losses in the year incurred rather than amortizing them over...
02.16.17 TimkenSteel to Increase Prices on Special Bar Quality, Seamless Mechanical Tubing Products
CANTON, Ohio: Feb. 16, 2017 — TimkenSteel (NYSE: TMST, timkensteel.com ), a leader in customized alloy steel products and services, today announced it will increase prices on special bar quality (SBQ) and seamless mechanical tubing products by $30 per ton. These increases are for orders not already covered by pricing agreements and effective on shipments beginning April 3, 2017. All surcharge mechanisms remain in effect. About TimkenSteel Corporation TimkenSteel (NYSE:TMST, timkensteel.com ) creates tailored steel products and services for demanding applications, helping customers push the bounds of what's possible within their industries. The company reaches around the world in its customers' products and leads North America in large alloy steel bars (up to 16 inches in diameter) and seamless mechanical tubing made of its special bar quality (SBQ) steel, as well as supply chain and steel services. TimkenSteel operates warehouses and sales offices in five countries and has made all of...
01.12.17 TimkenSteel Adopts Mark-to-Market Reporting of Pension and OPEB Plans
- Change allows for more transparent reporting of annual operating results. - Net impact of this change is estimated to decrease the company's 2016 operating results by approximately $25 million to $35 million (after-tax). - Fourth-quarter and year-end 2016 earnings call scheduled for Friday, Feb. 17. TimkenSteel Corp. (NYSE: TMST, timkensteel.com ), a leader in custom steel and alloy steel products and services, announced today that it is changing to the mark-to-market method of accounting for pension and other post-employment benefit (OPEB) plans. This method recognizes actuarial gains or losses in the year incurred rather than amortizing them over future years.  The net impact of this change is estimated to decrease the company's 2016 operating results by approximately $25 million to $35 million (after-tax), with full-year net loss now projected to be between $80 million and $90 million .  The majority of the net impact will be recognized in the fourth-quarter with the remainder...