Specialty alloy maker Timken Co. said Monday it won a $600,000 contract from Chinese iron and steel maker Baosteel to provide reconditioning services at its mills.

    Timken said an earlier reconditioning - a form of heavy-duty maintenance - of a Baosteel cold rolling temper mill provided cost-savings of about 50 percent compared to the cost of buying new bearings.

    Shares of Timken rose 10 cents to $33.70 in midday trading Monday.