Timken eyes steel growth of up to 10%
Apr 25, 2012 | 02:50 PM
| Corinna Petry
CHICAGO Timken Co.s Steel Group is targeting growth in business activity of 5 to 10 percent this year even as its special bar quality (SBQ) product customers remain on controlled order entry.
The Canton, Ohio-based steelmaker expects strong 2012 margins based on higher average pricing to contract customers, which represent around 90 percent of sales.
"The end-use requirements look very strong and solid," steel group president Salvatore J. Miraglia Jr. said Wednesday during the companys quarterly earnings conference call. "As we speak to customers, there is no expectation of any lack of demand."....
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