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We are realizing the benefits of our multi-year $500 million capital investment program.

We designed this plan to strengthen our ability to provide differentiated solutions for the energy, industrial and automotive markets and enhance our operational performance and customer service capabilities. More

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TimkenSteel in the News

11.19.19 TimkenSteel Announces Plan to Close Its Material Services Facility in Houston
 TimkenSteel Corporation (NYSE: TMST), today announced plans to close its TimkenSteel Material Services facility in Houston, Texas, in the first quarter of 2020. The 100,000-square-foot operation currently employs approximately 100 people who provide precision value-added and finishing services, primarily to customers that service the energy market. "We are focusing on our core strengths of making and heat treating steel and more fully utilizing our supply chain to provide the value-added services required by our customers. This change to how we serve the evolving energy market will improve the company's financial performance," said William Bryan, executive vice president of manufacturing and supply chain. As a result of the plant closure, the company expects to realize approximately $6 million to $8 million of annual savings. About TimkenSteel Corporation TimkenSteel (NYSE: TMST, timkensteel.com) creates tailored steel products and services for demanding applications, helping...
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11.13.19 TimkenSteel Board of Directors Appoints Leila Vespoli as Independent Director
 The board of directors of TimkenSteel Corporation (NYSE: TMST), appointed Leila Vespoli, retired executive vice president of corporate strategy, regulatory affairs and chief legal officer of FirstEnergy Corp., as a new independent director. "Leila is a proven strategic business leader who brings a diverse and important set of business skills, experience and knowledge to our board," said John P. Reilly, chairman of TimkenSteel. "In her most recent role, she led the planning process to develop FirstEnergy's long-term strategy and financial forecasts, led two mergers and played an integral role in guiding a $7 billion transformational restructuring process. Her financial expertise and experience in regulatory, investor and M&A activities are extremely beneficial to the company's business as well as the board's depth." Vespoli is a member of the board of directors of Dollar Bank and Dollar Mutual Bancorp, where she serves on the audit and enterprise risk committees. She...
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11.06.19 TimkenSteel Announces Third-Quarter 2019 Results
TimkenSteel (NYSE: TMST), a leader in customized alloy steel products and services, today reported 2019 third-quarter net sales of $274.2 million and a net loss of $4.6 million or minus $0.10 per diluted share. In the same quarter last year, net sales were $409.9 million with net income of $1.4 million or $0.03 per diluted share. EBITDA (1) for the third quarter of 2019 was $14.4 million, a decrease of $12.1 million from adjusted EBITDA (1) over the same quarter last year. During the quarter, the company effectively managed its working capital and generated positive free cash flow (1) of $33 million. This enabled the company to pay down $35 million in debt, which represents the lowest borrowing level since 2017. "As expected, we continue to be challenged by our end markets. We are laser-focused on improving customer engagement and outcomes while driving financial and structural improvements through what we can control, including cost reduction, cash generation and enhanced liquidity,"...
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