Universal Stainless Announces Base Price Increases on Premium Melted Steels and Change to Its Surcharge Mechanism
Jun 6, 2005
Universal Stainless Announces Base Price Increases on Premium Melted Steels and Change to Its Surcharge Mechanism
Universal Stainless Announces Base Price Increases on Premium Melted Steels and Change to Its Surcharge Mechanism
In addition, the Company is raising its surcharge premium for nickel to $0.30 from $0.23, effective immediately.
Dudley J. Merchant, Vice President of Sales and Marketing, commented: "The base price increases will enable us to recover increased operating and energy costs and continue to reinvest in our manufacturing facilities. The change in our surcharge mechanism is a direct pass through of the dramatic increase in nickel premiums."
About Universal Stainless & Alloy Products, Inc.
Universal Stainless & Alloy Products, Inc., headquartered in Bridgeville, Pa., manufactures and markets a broad line of semi-finished and finished specialty steels, including stainless steel, tool steel and certain other alloyed steels. The Company's products are sold to original equipment manufacturers, service centers, forgers, rerollers and wire redrawers.
Forward-Looking Information Safe Harbor
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Those risks include, among others, risks associated with the receipt, pricing and timing of future customer orders, risks associated with significant fluctuations that may occur in raw material and energy prices, risks associated with the manufacturing process and production yields, risks related to property, plant and equipment and risks related to the ultimate outcome of the Company's current and future litigation and regulatory matters. Certain of these risks and other risks are described in the Company's filings with the Securities and Exchange Commission (SEC) over the last 12 months, copies of which are available from the SEC or may be obtained upon request from the Company.
Universal Stainless Announces Base Price Increases on Premium Melted Steels and Change to Its Surcharge Mechanism
BRIDGEVILLE, Pa., June 6, 2005 -- Universal Stainless & Alloy Products, Inc. (Nasdaq:USAP) today announced base price increases on all premium melted steels consisting of vacuum arc remelted and electro slag remelted steels. The increases are 6% on all stainless steel remelted grades and 8% on all high strength low alloy remelted grades. These price changes are effective with shipments scheduled for June 13th.In addition, the Company is raising its surcharge premium for nickel to $0.30 from $0.23, effective immediately.
Dudley J. Merchant, Vice President of Sales and Marketing, commented: "The base price increases will enable us to recover increased operating and energy costs and continue to reinvest in our manufacturing facilities. The change in our surcharge mechanism is a direct pass through of the dramatic increase in nickel premiums."
About Universal Stainless & Alloy Products, Inc.
Universal Stainless & Alloy Products, Inc., headquartered in Bridgeville, Pa., manufactures and markets a broad line of semi-finished and finished specialty steels, including stainless steel, tool steel and certain other alloyed steels. The Company's products are sold to original equipment manufacturers, service centers, forgers, rerollers and wire redrawers.
Forward-Looking Information Safe Harbor
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Those risks include, among others, risks associated with the receipt, pricing and timing of future customer orders, risks associated with significant fluctuations that may occur in raw material and energy prices, risks associated with the manufacturing process and production yields, risks related to property, plant and equipment and risks related to the ultimate outcome of the Company's current and future litigation and regulatory matters. Certain of these risks and other risks are described in the Company's filings with the Securities and Exchange Commission (SEC) over the last 12 months, copies of which are available from the SEC or may be obtained upon request from the Company.
CONTACT: Universal Stainless & Alloy Products, Inc.
Richard M. Ubinger, Vice President of Finance,
Chief Financial Officer and Treasurer
(412) 257-7606
Comm-Partners LLC
June Filingeri
(203) 972-0186
