Carpenter Powder Products Raises Prices on All Tool Steel Products
February 03 2011 - 11:56AM
Business Wire
Carpenter Powder Products today announced that it will increase
base prices by 5 – 7 percent on all Micro Melt (PM) and wrought
tool steel products. The increase will be effective for orders
shipped on or after March 1, 2011. Additionally, current monthly
surcharges will remain in effect.
Carpenter Powder Products, a division of Carpenter Technology
Corporation (NYSE:CRS), produces and distributes powder metal and
wrought high speed and tool steel products. Information about
Carpenter Powder Products can be found on the Internet at
www.cartech.com.
Forward-Looking Statements
Except for historical information, all other information in this
news release consists of forward-looking statements within the
meaning of the Private Securities Litigation Act of 1995. These
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ from those projected,
anticipated or implied. The most significant of these uncertainties
are described in Carpenter's filings with the Securities and
Exchange Commission including its annual report on Form 10-K for
the year ended June 30, 2010 and the quarterly report on Form 10-Q
for the quarter ended September 30, 2010 and the exhibits attached
to those filings. They include but are not limited to: 1) the
cyclical nature of the specialty materials business and certain
end-use markets, including aerospace, industrial, automotive,
consumer, medical, and energy, or other influences on Carpenter's
business such as new competitors, the consolidation of competitors,
customers, and suppliers or the transfer of manufacturing capacity
from the United States to foreign countries; 2) the ability of
Carpenter to achieve cost savings, productivity improvements or
process changes; 3) the ability to recoup increases in the cost of
energy, raw materials, freight or other factors; 4) domestic and
foreign excess manufacturing capacity for certain metals; 5)
fluctuations in currency exchange rates; 6) the degree of success
of government trade actions; 7) the valuation of the assets and
liabilities in Carpenter's pension trusts and the accounting for
pension plans; 8) possible labor disputes or work stoppages; 9) the
potential that our customers may substitute alternate materials or
adopt different manufacturing practices that replace or limit the
suitability of our products; 10) the ability to successfully
acquire and integrate acquisitions; 11) the availability of credit
facilities to Carpenter, its customers or other members of the
supply chain; 12) the ability to obtain energy or raw materials,
especially from suppliers located in countries that may be subject
to unstable political or economic conditions; 13) our manufacturing
processes are dependent upon highly specialized equipment located
primarily in one facility in Reading, Pennsylvania for which there
may be limited alternatives if there are significant equipment
failures or catastrophic event; and (14) our future success depends
on the continued service and availability of key personnel,
including members of our executive management team, management,
metallurgists and other skilled personnel and the loss of these key
personnel could affect our ability to perform until suitable
replacements are found. Any of these factors could have an adverse
and/or fluctuating effect on Carpenter's results of operations. The
forward-looking statements in this document are intended to be
subject to the safe harbor protection provided by Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Carpenter undertakes
no obligation to update or revise any forward-looking
statements.
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