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10.14.21 TimkenSteel Announces 2030 Environmental Goals, Reaffirms Overall Environmental, Social and Governance Commitments
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30% absolute reduction in total energy consumption (direct and indirect) 35% absolute reduction in fresh water withdrawn 10% reduction in waste-to-landfill intensity These targets are supported by projects across the company's manufacturing, supply chain and corporate operations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....
10.13.21 TimkenSteel to Increase Prices on Special Bar Quality Products
TimkenSteel Corp. (NYSE: TMST), a leader in customized alloy steel products and services, today announced it will increase base pricing on all special bar quality (SBQ) products by $60 per ton. This increase is applicable to orders not already covered by pricing agreements and is effective for shipments beginning November 1, 2021. All surcharge mechanisms remain in effect. ABOUT TIMKENSTEEL CORPORATION TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products from recycled scrap materials in Canton, OH, serving demanding applications in automotive, energy and a variety of industrial end markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and manufactured components. In the business of making high-quality steel for more than 100 years, TimkenSteel's proven expertise contributes to the performance of our customers' products. The company employs approximately 1,900 people and had sales...
10.08.21 TimkenSteel, United Steelworkers (USW) Local 1123 Reach Tentative Agreement for New Four-Year Contract
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...
09.24.21 TimkenSteel and The United Steelworkers (USW) Local 1123 Agree to Extend Contract
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 jointly agreed to extend their contract, which expires on Monday, September 27, 2021. The two-week extension will allow negotiations to continue as both sides work toward a mutually acceptable agreement. The extension will expire on Monday, October 11, 2021. "Negotiations are moving forward constructively," said Mike Williams, president and CEO. "TimkenSteel remains committed to reaching an agreement that supports the company's objectives and continues to position us as one of the area's best employers." The current agreement covers approximately 1,180 bargaining employees at the company's Canton, Ohio operations. ABOUT TIMKENSTEEL CORPORATION TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products from recycled scrap materials in Canton, OH, serving demanding applications in...
08.12.21 TimkenSteel Elects Two New Independent Directors
TimkenSteel Corp. (NYSE: TMST) – The board of directors of TimkenSteel Corporation, today elected Ken Garcia, executive fellow of Q2 Software, Inc., and Ellis Jones, vice president of global environmental, health, safety, sustainability and business continuity with The Goodyear Tire and Rubber Company, as new independent directors. They join eight directors currently serving on the TimkenSteel board. "Both Ellis and Ken are proven leaders who possess broad and deep experience within their areas of expertise," said Ron Rice, chairman of TimkenSteel's board. "Their varied experiences, which are rooted in optimizing organizational performance, complement TimkenSteel's strategic priorities and strengthen the board's shared knowledge in several key areas of emphasis." Garcia is a proven entrepreneur whose expertise encompasses business and product development, marketing, technology, legal, finance and M&A transactions. In his current role, he assists Q2 Software's board of directors...
08.09.21 TimkenSteel to Increase Prices on Special Bar Quality and Seamless Mechanical Tubing Products
TimkenSteel Corp. (NYSE: TMST), a leader in customized alloy steel products and services, today announced it will increase base pricing on all special bar quality (SBQ) products by $60 per ton. This increase is effective for shipments beginning September 6, 2021. The company also announced it will increase prices on all carbon and alloy seamless mechanical tubing (SMT) products by $60 per ton. SMT increases are effective for shipments beginning January 3, 2022. All increases are applicable to orders not already covered by pricing agreements and surcharge mechanisms remain in effect. ABOUT TIMKENSTEEL CORPORATION TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products in Canton, OH serving demanding applications in automotive, energy and a variety of industrial end markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and manufactured components. In the business of making high-quality...
08.05.21 TimkenSteel Announces Second-Quarter 2021 Results
- Net sales of $327.3 million increased 20 percent sequentially on continued strength in industrial end-market demand
- Record profitability with net income of $54.0 million and adjusted EBITDA(1) of $71.0 million
- Operating cash flow of $39.2 million resulted in further expansion of total liquidity(2)  TimkenSteel (NYSE: TMST), a leader in high-quality specialty steel, manufactured components, and supply chain solutions, today reported second-quarter 2021 net sales of $327.3 million and net income of $54.0 million, or $0.98 per diluted share. On an adjusted basis (1) , second-quarter 2021 net income was $52.5 million, or $0.96 per diluted share, and adjusted EBITDA was $71.0 million. In the same quarter last year, net sales were $154.0 million with a net loss of $15.3 million, or a loss of $0.34 per diluted share. On an adjusted basis (1) , second-quarter 2020 net loss was $14.3 million, or a loss of $0.31 per diluted share, and adjusted EBITDA was $5.7 million....
07.22.21 TimkenSteel Announces Second-Quarter Fiscal 2021 Earnings Webcast Details
TimkenSteel Corp. (NYSE: TMST) will release its 2021 second-quarter financial results on Thursday, August 5, after the market closes on the New York Stock Exchange. The company will provide live Internet listening access to its conference call with the financial community scheduled for Friday, August 6, 2021 at 9:00 a.m. ET. The live conference call will be broadcast at investors.timkensteel.com . A replay of the conference call will also be available at investors.timkensteel.com . About TimkenSteel Corporation TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products in Canton, OH serving demanding applications in automotive, energy and a variety of industrial end markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and precision components. In the business of making high-quality steel primarily from recycled materials for more than 100 years, TimkenSteel's proven expertise...
06.10.21 TimkenSteel and United Steelworkers Local 1123 to Begin Contract Discussions on August 9
TimkenSteel (NYSE: TMST) ( timkensteel.com ) and the United Steelworkers will begin discussions on August 9 regarding the current labor agreement that is set to expire on September 27. The current agreement covers approximately 1,180 bargaining employees at the company's Canton, Ohio operations. "Our goal is to reach a fair, equitable agreement that supports the company's vision and provides job security for our employees," said Mike Williams, president and CEO. "We hope to reach a timely agreement as our industry and customers endure rapidly changing market dynamics, and our company continues to focus on achieving sustainable profitability through all cycles while operating safely and responsibly each and every day." 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) manufactures high-performance...
06.04.21 TimkenSteel to Increase Prices on Special Bar Quality Products
TimkenSteel Corp. (NYSE: TMST), a leader in customized alloy steel products and services, today announced it will increase base pricing on all special bar quality (SBQ) products by $50 per ton. This increase is applicable to orders not already covered by pricing agreements and is effective for shipments beginning July 5, 2021. All surcharge mechanisms remain in effect. ABOUT TIMKENSTEEL CORPORATION TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products in Canton, OH serving demanding applications in automotive, energy and a variety of industrial end markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and precision components. In the business of making high-quality steel primarily from recycled materials for more than 100 years, TimkenSteel's proven expertise contributes to the performance of our customers' products. The company employs approximately 2,000 people and had sales of...
05.06.21 TimkenSteel Announces First-Quarter 2021 Results
- Net sales of $273.6M increased 30% sequentially
- Net income of $9.8 million and adjusted EBITDA(1) of $40.8 million, a significant improvement both sequentially and compared with the prior-year quarter
- Record total liquidity(2) of $357.5 million
- Completed transition to single melt and casting shop at Faircrest facility  TimkenSteel (NYSE: TMST), a leader in customized alloy steel products and services, today reported first-quarter 2021 net sales of $273.6 million and net income of $9.8 million, or $0.20 per diluted share. On an adjusted basis (1) , first-quarter 2021 net income was $22.6 million, or $0.43 per diluted share, and adjusted EBITDA was $40.8 million. In the same quarter last year, net sales were $259.7 million with a net loss of $19.9 million, or a loss of $0.44 per diluted share. On an adjusted basis (1) , first-quarter 2020 net loss was $11.3 million, or a loss of $0.25 per diluted share, and adjusted EBITDA was $9.0 million. The Company's...
04.26.21 TimkenSteel Enters into an Agreement to Sell TimkenSteel (Shanghai) Corporation Limited to Daido Steel
TimkenSteel Corp. (NYSE: TMST), a leader in customized alloy steel products and services, announced it has signed a purchase agreement with Daido Steel (Shanghai) Co., Ltd. ("Daido") with the intent to sell its TimkenSteel (Shanghai) Corporation Limited ("TSS") subsidiary in China for approximately $7 million in cash. "With this arrangement, Daido will move from a valued supplier to a key authorized distributor of TimkenSteel products in China," stated Mike Williams, president and chief executive officer for TimkenSteel. "Daido and TimkenSteel have enjoyed a long relationship and have collaborated on everything from technical assistance to product development in order to support key customers in Asia and the United States. We thank the TSS team for their efforts on behalf of TimkenSteel and we wish everyone continued success." The transaction is contingent upon completion of usual and customary due diligence. Close of the transaction is expected in the third quarter of 2021. About...
04.22.21 TimkenSteel Announces First-Quarter Fiscal 2021 Earnings Webcast Details
TimkenSteel Corp. (NYSE: TMST) will release its 2021 first-quarter financial results on Thursday, May 6, after the market closes on the New York Stock Exchange. The company will provide live Internet listening access to its conference call with the financial community scheduled for Friday, May 7, 2021 at 9:00 a.m. EDT. The live conference call will be broadcast at investors.timkensteel.com . A replay of the conference call will also be available at investors.timkensteel.com . About TimkenSteel Corporation TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products in Canton, OH serving demanding applications in automotive, energy and a variety of industrial end markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and precision components. In the business of making high-quality steel primarily from recycled materials for more than 100 years, TimkenSteel's proven expertise contributes to...
03.15.21 TimkenSteel to Increase Prices on Special Bar Quality Products
TimkenSteel Corp. (NYSE: TMST), a leader in customized alloy steel products and services, today announced it will increase base pricing on special bar quality (SBQ) products 3.500" and below by $55 per ton and $40 per ton for sizes above 3.500". This increase is applicable to orders not already covered by pricing agreements and is effective for shipments beginning May 3, 2021. All surcharge mechanisms remain in effect. About TimkenSteel Corporation TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products in Canton, OH serving demanding applications in automotive, energy and a variety of industrial end markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and precision components. In the business of making high-quality steel primarily from recycled materials for more than 100 years, TimkenSteel's proven expertise contributes to the performance of our customers' products. The...
03.04.21 TimkenSteel to Increase Prices on Seamless Mechanical Tubing Products
TimkenSteel Corp. (NYSE: TMST), a leader in customized alloy steel products and services, today announced it will increase prices on carbon and quench and temper alloy seamless mechanical tubing (SMT) products by $40 per ton. These increases are effective for all shipments beginning July 5, 2021. All surcharge mechanisms remain in effect. About TimkenSteel Corporation TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products in Canton, OH serving demanding applications in automotive, energy and a variety of industrial end markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and precision components. In the business of making high-quality steel primarily from recycled materials for more than 100 years, TimkenSteel's proven expertise contributes to the performance of our customers' products. The company employs approximately 2,000 people and had sales of $831 million in 2020. For more...
02.25.21 TimkenSteel Announces Fourth-Quarter and Full-Year 2020 Results
- Record full-year operating cash flow of $173.5 million, including $52.5 million in the fourth quarter
- Record total liquidity(1) of $314.1 million at year-end
- Net sales of $211.2 million in the fourth quarter reflecting improving customer demand
- Fourth quarter net loss of $12.8 million with adjusted EBITDA(2) of $20.7 million in the quarter  TimkenSteel (NYSE: TMST), a leader in customized alloy steel products and services, today reported fourth-quarter 2020 net sales of $211.2 million and a net loss of $12.8 million. In the same quarter last year, net sales were $226.9 million with net loss of $84.6 million. Adjusted EBITDA (2) for the fourth quarter of 2020 was $20.7 million compared with an adjusted EBITDA (2) loss of $8.7 million in the same quarter last year. "I'd like to thank the employees of TimkenSteel who worked tirelessly throughout 2020, under challenging conditions, to support our customers' needs while making significant progress on improving our...
02.24.21 TimkenSteel to Increase Prices on Special Bar Quality Products
TimkenSteel Corp. (NYSE: TMST), a leader in customized alloy steel products and services, today announced it will increase base pricing on all special bar quality (SBQ) products by $40 per ton. This increase is applicable to orders not already covered by pricing agreements and is effective for shipments beginning April 5, 2021. All surcharge mechanisms remain in effect. About TimkenSteel Corporation TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products in Canton, OH serving demanding applications in automotive, energy and a variety of industrial end markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and precision components. In the business of making high-quality steel primarily from recycled materials for more than 100 years, TimkenSteel's proven expertise contributes to the performance of our customers' products. The company employs approximately 2,055 people and had sales of...
02.10.21 TimkenSteel to Announce Fourth-Quarter and Full-Year 2020 Financial Results on February 25
TimkenSteel Corp. (NYSE: TMST) will release its 2020 fourth-quarter and full-year financial results on Thursday, February 25, after the market closes on the New York Stock Exchange. The company will host a conference call at 9 a.m. ET on Friday, February 26 to discuss its financial performance with investors and securities analysts. The financial results will be available online at investors.timkensteel.com . TimkenSteel earnings call information: Conference call Friday, February 26, 2021 9 a.m. ET Toll-free dial-in: 833-238-7951 International dial-in: 647-689-4199 Conference ID: 6591728 Conference call replay Replay dial-in available through March 5, 2021 800-585-8367 or 416-621-4642 Replay passcode: 6 591728 About TimkenSteel Corporation TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products in Canton, OH serving demanding applications in automotive, energy and a variety of industrial end markets. The company is a premier U.S. producer of alloy steel...
01.13.21 TimkenSteel to Increase Prices on Special Bar Quality Products
TimkenSteel Corp. (NYSE: TMST), a leader in customized alloy steel products and services, today announced it will increase base pricing on all special bar quality (SBQ) products by $40 per ton. This increase is applicable to orders not already covered by pricing agreements and is effective for shipments beginning March 1, 2021. All surcharge mechanisms remain in effect. About TimkenSteel Corporation TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products in Canton, OH serving demanding applications in automotive, energy and a variety of industrial end markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and precision components. In the business of making high-quality steel primarily from recycled materials for more than 100 years, TimkenSteel's proven expertise contributes to the performance of our customers' products. The company employs approximately 2,055 people and had sales of...
01.05.21 Timkensteel Announces Inducement Grants For Its New Chief Executive Officer
TimkenSteel Corp. (NYSE: TMST), a leader in customized alloy steel products and services, today announced that, as previously disclosed in its Form 8-K filed with the Securities and Exchange Commission on December 18, 2020, TimkenSteel made inducement grants to Michael S. Williams, the newly-appointed President and Chief Executive Officer of TimkenSteel. The Compensation Committee of TimkenSteel's Board of Directors approved, pursuant to Section 303A.08 of the New York Stock Exchange Listed Company Manual, grants of inducement equity awards to Mr. Williams consisting of time-based restricted share units covering 423,400 of TimkenSteel's common shares (the "RSU Award") and performance-based restricted share units covering a target number of 423,400 of TimkenSteel's common shares (with a maximum payout opportunity of 635,100 common shares) (the "PRSU Award"). These awards were granted outside of the TimkenSteel Corporation 2020 Equity and Incentive Compensation Plan as inducements...