Carpenter Technology Raises Stainless and Specialty Alloy Prices
April 14 2011 - 8:00AM
Business Wire
Carpenter Technology Corporation (NYSE: CRS) today announced
that it will increase base prices an average of three to five
percent on stainless and specialty alloys in all product forms. The
increases will be effective for orders placed on or after April 15,
2011. Additionally, Carpenter said all applicable surcharges will
remain in effect.
About Carpenter Technology
Carpenter Technology produces and distributes conventional and
powder metal specialty alloys, including stainless steels, titanium
alloys, tool steels and superalloys. Information about Carpenter
can be found 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 reports on Form 10-Q
for the quarters ended September 30, 2010 and December 31, 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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