Timken says union votes down proposed labor pact

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WASHINGTON (Dow Jones/AP) - Timken Co., a maker of engineered bearings and alloy steel products, Wednesday said the steelworkers union voted down a proposed labor agreement on Tuesday.

The Canton, Ohio-based company said in a document filed with the Securities and Exchange Commission that the new contract would have become effective upon the expiration of the current five-year deal on Sept. 25.

Timken said it expects to meet with the union to determine the next course of action.

No meetings have been scheduled at this time, according to the filing.
The proposed agreement covered 2,700 people at the company's bearing and steel plants in Canton and a steel plant in Wooster, Ohio.
Shares of Timken rose 4 cents to close at $25.31 Wednesday on the New York Stock Exchange.

06/22/05 16:40 EDT


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