SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
ANNUAL REPORT
PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
/X / ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED].
For the fiscal year ended December 31, 1993
OR
/ / TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED].
For the transition period from
to
Commission file number 1-1169
THE TIMKEN COMPANY - LATROBE STEEL COMPANY
SAVINGS AND INVESTMENT PENSION PLAN
(the "Plan")
(Full title of the Plan)
THE TIMKEN COMPANY, 1835 Dueber Avenue, S.W., Canton, Ohio 44706 (Name of issuer of the securities held pursuant to the Plan and the address of its principal executive office)
REQUIRED INFORMATION
Audited financial statements and schedules for the Plan prepared in accordance with the financial reporting requirements of the Employee Retirement Income Security Act of 1974, as amended, are filed herewith in lieu of an audited statement of financial condition and statement of income and changes in plan equity.
Financial Statements and Exhibits
A) The following financial statements and schedules are being filed separately in paper format under cover of Form SE pursuant to Item 311(c) of Regulation S-T and General Instruction E to Form 11-K:
1) Statements of Assets Available for Plan Benefits - December 31, 1993 and 1992
2) Statements of Changes in Assets Available for Plan Benefits - December 31, 1993 and 1992
3) Schedules
a) Assets Held for Investment - December 31, 1993
b) Transactions or Series of Transactions in Excess of 5% of the Current Value of Plan Assets - Year Ended December 31, 1993
B) The following exhibit is filed as part of this annual report:
Exhibit No. 23 ..... Consent of Independent Auditors
SIGNATURES
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on their behalf by the undersigned hereunto duly authorized.
THE TIMKEN COMPANY - LATROBE STEEL
COMPANY SAVINGS AND INVESTMENT
PENSION PLAN
Date June 24, 1994 By STEPHEN A. PERRY
Stephen A. Perry
Vice President - Human
Resources & Logistics
|
REPORT OF INDEPENDENT AUDITORS
The Timken Company, Administrator
of The Timken Company Savings
and Investment Pension Plan
We have audited the accompanying statements of assets available for plan benefits of The Timken Company Savings and Investment Pension Plan as of December 31, 1993 and 1992, and the related statements of changes in assets available for plan benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the assets available for plan benefits of the Plan at December 31, 1993 and 1992, and the changes in its assets available for plan benefits for the years then ended, in conformity with generally accepted accounting principles.
Our audits were made for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedules of assets held for investment as of December 31, 1993 and transactions or series of transactions in excess of 5% of the current value of plan assets for the year then ended are presented for purposes of complying with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, and are not a required part of the financial statements. The supplemental schedules have been subjected to the auditing procedures applied in our audit of the 1993 financial statements and, in our opinion, are fairly stated in all material respects in relation to the 1993 financial statements taken as a whole.
ERNST & YOUNG
Canton, Ohio
June 6, 1994
FORM 11-K
INDEX TO EXHIBITS
EXHIBIT NO. PAGE NO.
23 Consent of Independent Auditors 6
Exhibit 23
CONSENT OF INDEPENDENT AUDITORS
We consent to the incorporation by reference in the Registration Statement (Form S-8 No. 33-50872) pertaining to The Timken Company Savings and Investment Pension Plan of our report dated June 6, 1994, with respect to the financial statements and schedules of The Timken Company Savings and Investment Pension Plan included in this Annual Report (Form 11-K) for the year ended December 31, 1993.
ERNST & YOUNG
Canton, Ohio
June 24, 1994