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Latrobe Specialty Steel Announces Price Increase

Dépèche transmise le 21 avril 2011 par Business Wire

Latrobe Specialty Steel Announces Price Increase

LATROBE, Pa.--(BUSINESS WIRE)--Latrobe Specialty Steel announced it would increase prices by 3 to 10 percent on high speed and tool steels grades, air melt stainless steels, remelted alloys and nickel based superalloys sold through Latrobe’s Distribution and Manufacturing business units. The price increase will be effective immediately on all new inquiries and with all new orders received beginning May 1, 2011. Raw material surcharges will remain in effect.

“This price increase will enable Latrobe Specialty Steel to recover the increasing operational costs that we are experiencing throughout our entire manufacturing process”

“This price increase will enable Latrobe Specialty Steel to recover the increasing operational costs that we are experiencing throughout our entire manufacturing process,” said Mark T. Weberding, Vice President of Marketing & Sales - Manufacturing. “Although Latrobe Specialty Steel has a surcharge mechanism to reflect our direct energy consumption, we continue to experience higher costs for operating supplies due to the impact of energy prices on our vendors’ operations. In addition, this increase will allow us to accelerate several planned capital expenditures in order to expand capacity for many of our specialized products to significantly reduce lead-times to our customers.”

Latrobe Specialty Steel, in continuous operation in the same main location since 1913, employs over 800 people across the world. Latrobe Specialty Steel supplies essential materials to the aerospace, defense, energy, medical and industrial sectors. Please visit www.latrobesteel.com for additional information about the company and its products or contact Lisa Pierce at 724-532-6324 or lisa.pierce@latrobesteel.com to arrange an interview.