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TIMKEN COMPANY EMPLOYEES RATIFY NEW CONTRACT

 CANTON, Ohio, Nov. 29 ~PRNewswire~ -- Timken Company (NYSE: TKR) employees today ratified a new four-year contract between the company and the United Steelworkers of America.
 "We are pleased that our employees voted to accept the agreement reached by union and company negotiators," said Bill J. Bowling, vice president-human resources and logistics.
 "This contract will strengthen our position with customers, help ensure job security for our employees and maintain the company's flexibility in cutting costs and improving its competitiveness," he added. "It's good news for the company and our employees, as well as for our customers, plant communities and shareholders."
 The existing contract, which affects 5,000 employees in Canton, Columbus and Wooster, Ohio, remains in effect until Sept. 19, 1993. The new pact will expire Sept. 22, 1997.
 The Timken Company asked the union on Sept. 9 to open negotiations early. Negotiations began Sept. 30, with a tentative agreement being reached on Nov. 20. Historically, the two parties have opened negotiations 60 days prior to contract expiration.
 Mr. Bowling said customer concerns about the company's ability to supply product in 1993 were a factor in requesting that negotiations begin early. Many of the company's supplier contracts will be determined in the coming weeks.
 In addition to provisions designed to improve job security, the new contract provides employees with increased pensions and continued cost-of-living adjustments with guaranteed minimum payments.
 The Timken Company is a leading international manufacturer of highly engineered bearings and alloy steels. The company employs some 18,000 people worldwide and recorded 1991 sales of more than $1.6 billion.
 -0- 11~29~92
 ~CONTACT: Keith Price of Timken Company, (office) 216-471-3825; or (home) 216-494-0721~
 (TKR)


CO: Timken Company ST: Ohio IN: AUT SU:

SB -- NYON1 -- 3980 11~29~92 19:56 EST
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Publication:PR Newswire
Date:Nov 29, 1992
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