Universal Stainless Announces Stainless Base Price Increase
March 20 2017 - 7:00AM
Universal Stainless & Alloy Products, Inc.
(Nasdaq:USAP) today announced a base price increase of 5% on all
stainless bar products manufactured at its Bridgeville, Dunkirk and
North Jackson facilities. The increase will be effective for
all new orders entered March 27, 2017 forward. Current
material and energy surcharges will remain in effect.
Chris Zimmer, Executive Vice President and Chief
Commercial Officer, commented, “We are committed to providing our
customers high quality steel with industry leading delivery
performance and lead times. This price adjustment is
necessary to support our ongoing reinvestment into our facilities
to better serve our customers.”
About Universal Stainless & Alloy
Products, Inc.Universal Stainless & Alloy Products,
Inc., headquartered in Bridgeville, Pa., manufactures and markets
semi-finished and finished specialty steels, including stainless
steel, tool steel and certain other alloyed steels. The Company's
products are used in a variety of industries, including aerospace,
power generation, oil & gas and heavy equipment manufacturing.
Established in 1994, our experience, technical expertise, and
dedicated workforce stand committed to providing the best quality,
delivery, and service possible. More information is available at
www.univstainless.com.
Forward-Looking Information Safe
HarborExcept 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, the concentrated nature of the
Company’s customer base to date and the Company’s dependence on its
significant customers; the receipt, pricing and timing of future
customer orders; changes in product mix; the limited number of raw
material and energy suppliers and significant fluctuations that may
occur in raw material and energy prices; risks related to property,
plant and equipment, including the Company’s
reliance on the continuing operation of critical manufacturing
equipment; risks associated with labor matters; the Company’s
ongoing requirement for continued compliance with laws and
regulations, including applicable safety and environmental
regulations; the ultimate outcome of the Company’s current and
future litigation and matters; risks related to acquisitions that
the Company may make; and the impact of various economic, credit
and market risk uncertainties. Many of these factors are not within
the Company’s control and involve known and unknown risks and
uncertainties that may cause the Company’s actual results in future
periods to be materially different from any future performance
suggested herein. Any unfavorable change in the foregoing or
other factors could have a material adverse effect on the Company’s
business, financial condition and results of operations.
Further, the Company operates in an industry sector where
securities values may be volatile and may be influenced by economic
and other factors beyond the Company’s control. 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.
CONTACTS:
Dennis Oates
Chairman,
President and CEO
(412) 257-7609
Ross Wilkin
VP Finance, CFO
and Treasurer
(412) 257-7662
Brian M. Rayle
Managing Director
Libertatis Consulting
(440) 827-2019
Unversal Stainless and A... (NASDAQ:USAP)
Historical Stock Chart
From Aug 2024 to Sep 2024
Unversal Stainless and A... (NASDAQ:USAP)
Historical Stock Chart
From Sep 2023 to Sep 2024