TimkenSteel Board of Directors Elects Two Additional Independent Directors

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Jan 29, 2015, 04:15 ET

CANTON, Ohio, Jan. 29, 2015 /PRNewswire/ -- The board of directors of TimkenSteel (NYSE: TMST, timkensteel.com) elected two new independent directors: Randall Edwards, president and chief operating officer of Premier Pipe, LLC, and Ronald Rice, president and chief operating officer of RPM International Inc. Nine directors now serve on the TimkenSteel board.

"Randall and Ron each have deep experience in the markets we serve, and we welcome the insight they will bring to the TimkenSteel board," said Ward J. "Tim" Timken, Jr., chairman, CEO and president of TimkenSteel. "Randall has spent his career in the oil and gas industry and has a deep understanding of the supply chain, including steel mills supporting the energy market. Ron has breadth of experience across a variety of functions at industrial companies, including risk management, compensation and strategy. Together, their strengths round out a seasoned board of directors."

In 2014, Edwards joined Premier Pipe, a leader in the supply and management of engineered premium oil country tubular goods, as its president and chief operating officer. Previously, he was president of Grant Prideco, a leading supplier of oil field drill stem components, where he oversaw the company's global operations in six countries. Prior to that, at Wilson Supply, he managed oil country tubular goods and the company's drill pipe product line. Edwards holds a bachelor's degree from the University of Alabama at Birmingham.

In 1995, Rice joined RPM, which owns subsidiaries that manufacture specialty coatings, sealants and building materials, and provide related services for industrial and consumer markets. He served in a variety of functions before assuming his current leadership position. This experience gives him a broad view of business with particular expertise in strategy, corporate governance, risk management, administration, employee benefits and executive compensation. Rice began his career with The Wyatt Company, an actuarial consulting firm. He holds bachelor's degrees in mathematics and statistics from Miami University in Ohio.

About TimkenSteel Corporation

TimkenSteel (NYSE: TMST, timkensteel.com) creates tailored steel products and services for demanding applications, helping customers push the bounds of what's possible within their industries. The company reaches around the world in its customers' products and leads North America in large alloy steel bars (6"+) and seamless mechanical tubing made of its special bar quality steel, as well as supply chain and steel services. Operating from six countries, TimkenSteel posted sales of $1.4 billion in 2013.

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