Universal Stainless & Alloy (USAP) Announces 5% Price Increase
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Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) announced a base price increase of 5% on all tool steel plate manufactured at its Bridgeville facility. The increase is effective immediately for all new orders. Published material and energy surcharges will remain in effect.
Chris Zimmer, Vice President of Sales and Marketing, commented, "The price adjustment is necessary in response to increased costs associated with lower mill operating levels. This action will also enable us to continue our reinvestment in equipment and facilities to better serve our customers.''
Universal Stainless & Alloy Products, Inc., headquartered in Bridgeville, Pa., manufactures and markets a broad line of semi-finished and finished specialty steels, including stainless steel, tool steel and certain other alloyed steels. [SM]
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