TimkenSteel Named 'Steel Producer of the Year' by American Metal Market

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Jun 11, 2015, 04:26 ET

CANTON, Ohio, June 11, 2015 /PRNewswire/ -- TimkenSteel (NYSE: TMST, timkensteel.com), a leader in customized alloy steel products and services, has earned two American Metal Market Awards for Steel Excellence, including "Steel Producer of the Year."

TimkenSteel also won in the "Best Innovation, Process" category for its new jumbo bloom vertical caster.

TimkenSteel has been named Steel Producer of the Year by American Metal Market. The Canton, Ohio-based maker of special bar quality (SBQ) steel also received the best process innovation award for its new $200 million jumbo bloom vertical caster. The caster produces the largest rectangular bloom cross-sections in the world with industry-leading internal cleanness.

"We're honored by this recognition, which is the result of our employees' efforts in what was a remarkable year. Not only did we become an independent company, but we brought our new jumbo bloom vertical caster online," said Ward J. "Tim" Timken, Jr., chairman, CEO and president. "Our investment in the caster is part of our commitment to innovation, which gives us an ongoing competitive advantage in producing made-to-order steel that helps our customers solve their toughest challenges."

Winners of the sixth annual American Metal Market Awards for Steel Excellence were announced Tuesday evening at an awards dinner held in conjunction with the Steel Success Strategies XXX conference.

"The 15 winners represent the best companies in their respective segments of the global steel industry, embodying innovation and ingenuity," said Bristol Voss, editor-in-chief, AMM. "We had a record number of nominations for this year's awards, and finalists represented world-class innovation in their respective fields. To be named a winner truly signifies excellence in products, processes and people."

TimkenSteel's jumbo bloom vertical caster is the biggest continuous vertical bloom caster in the world and the only one of its kind in North America. It improves TimkenSteel's efficiency and capacity to serve demand for large bars and seamless mechanical tubing.

The $200 million caster makes sections of special bar quality (SBQ) steel that measure up to 18 inches x 24 inches, referred to as "jumbo blooms," which are later rolled into bars and tubes. The first heat from the caster was produced last October.

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 $1.7 billion in 2014. Follow us on Twitter @TimkenSteel.

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SOURCE TimkenSteel Corporation