Universal Stainless to Implement Electrode Surcharge
November 15 2017 - 7:00AM
Universal Stainless & Alloy Products, Inc.
(Nasdaq:USAP) today announced that it will implement an electrode
surcharge of $0.04 per pound for all electric arc melted grades of
steel effective January 1, 2018 forward. The new surcharge
will be incorporated into the monthly raw material surcharges as
listed on the Company's website. Raw material surcharges are a
pricing mechanism used to reflect the impact that fluctuating raw
material costs have on the selling price.
Chris Zimmer, Executive Vice President and Chief Commercial
Officer, commented, “The introduction of this surcharge is
necessary due to the recent, substantial increase in the cost of
graphite electrodes that are used in electric arc melting.”
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 |
|
June
Filingeri |
|
Chairman, |
|
President |
|
President
and CEO |
|
Comm-Partners LLC |
|
(412)
257-7609 |
|
(203)
972-0186 |
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