Timken bullish on steel after solid first quarter

Apr 24, 2014 | 01:20 PM | Thorsten Schier

Tags  Timken, earnings report, steel, aerospace, mobile, James W. Griffith, Thorsten Schier

NEW YORK — Timken Co. expects steel sales to rise 15 to 20 percent this year from 2013, driven by improved demand in the oil and gas and industrial end markets.

Steel sales in the first quarter rose 12.7 percent to $390.1 million from $346.1 million in the same period a year earlier, boosted by stronger demand and improved raw material surcharges, the company said in its earnings report April 24.....

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