Kaiser Aluminum Posts Further Reduction in Energy Surcharge
October 30 2008 - 8:00AM
Business Wire
Kaiser Aluminum (NASDAQ:KALU) today announced that the applicable
energy surcharge for November shipments of fabricated products will
be: 6xxx alloys: � $0.014 per pound All other alloys: $0.021 per
pound This is a reduction from the October surcharge of $0.019 per
pound for 6xxx alloys and $0.029 for all other alloys. The
reduction in the surcharge was driven by a continued decline in
natural gas, electricity and diesel prices. The surcharges are
based on a calculation tied to indices provided by the U.S.
Department of Energy and are updated on a monthly basis. Customers
can view the formulas for calculating surcharges on the Kaiser
Aluminum Web site at www.kaiseraluminum.com. Information on how
these surcharges impact specific products are also included on the
site. Kaiser Aluminum, headquartered in Foothill Ranch, Calif., is
a leading producer of fabricated aluminum products, serving
customers worldwide with highly-engineered solutions for aerospace
and high-strength, general engineering, and custom automotive and
industrial applications. The company's North American facilities
annually produce more than 500 million pounds of value-added sheet,
plate, extrusions, forgings, rod, bar and tube products, adhering
to traditions of quality, innovation and service that have been key
components of our culture since the company was founded in 1946.
The company's stock is included in the Russell 2000(R) index. For
more information, please visit www.kaiseraluminum.com. Certain
statements in this release relate to future events and expectations
and, as a result, constitute forward-looking statements involving
known and unknown risks and uncertainties that may cause actual
results, performance or achievements of the company to be different
from those expressed or implied in the forward-looking statements.
Important factors that could cause actual results to differ
materially from those in the forward-looking statements include:
(a) the effectiveness of management's strategies and decisions; (b)
the ability of the company to effectively recover higher costs; (c)
the company�s ability to reduce costs to mitigate inflationary
pressure; (d) adverse changes in economic or aluminum industry
conditions generally; (e) adverse changes in the markets served by
the company, including the aerospace, defense, general engineering,
automotive, distribution and other markets; (f) the company's
ability to leverage its technologies and the Kaiser Production
System methodology; and (g) the other risk factors summarized in
the company's Form 10-K for the year ended December 31, 2007 and
other reports filed with the Securities and Exchange Commission.
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