ATI Allvac Announces Revisions to Pricing Policy on All Nickel and Cobalt Alloys and Specialty Steel Products.Business Editors PITTSBURGH--(BUSINESS WIRE)--Dec. 19, 2003 Allegheny Technologies Incorporated (NYSE NYSE See: New York Stock Exchange :ATI (ATI Technologies Inc., Markham Ontario, http://ati.amd.com) A leading manufacturer of graphics chips and display adapters. Founded in 1985 by K. Y. Ho, Benny Lau and Lee Lau, ATI chips and boards are widely used by OEMs. ) announced that ATI Allvac is revising its pricing policy due to dramatic increases and continued volatility in costs for raw materials, such as nickel, cobalt, molybdenum molybdenum (məlĭb`dənəm) [Gr.,=leadlike], metallic chemical element; symbol Mo; at. no. 42; at. wt. 95.94; m.p. about 2,617°C;; b.p. about 4,612°C;; sp. gr. 10.22 at 20°C;; valence +2, +3, +4, +5, or +6. and alloy scrap. The following actions are being implemented immediately for all nickel, cobalt and specialty steel alloys: -- All previous quotations are subject to adjustment/confirmation at time of order acceptance. -- All new offers will be quoted with a firm base price, reflecting $4.25/lb. nickel, $10.00/lb. cobalt, and $6.80/lb. molybdenum. -- In addition, a monthly raw material index is to be added at time of shipment. This raw material index will be calculated monthly based upon the prior month's average raw material prices. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on management's current expectations and are subject to uncertainties and changes in circumstances. Actual results may differ materially from those expressed or implied in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in Allegheny Technologies' filings with the Securities and Exchange Commission. We assume no duty to update our forward-looking statements. Allvac, an Allegheny Technologies company, is a leading producer of high performance metals with seven manufacturing facilities in the United States and Europe. Nickel-, iron-, cobalt-, and titanium-base materials are manufactured for the aerospace, marine, oil and gas, chemical processing, biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. , transportation, and nuclear industries. Product forms are: ingot ingot Mass of metal cast into a size and shape such as a bar, plate, or sheet convenient to store, transport, and work into a semifinished or finished product. The term also refers to a mold in which metal is so cast. , forging billet, extrusion billet, round forging bar, round machining bar, rectangular bar, custom rolled shapes, cold drawn bar and rod, rod, bar and rod coil. Allvac's website address is http://www.allvac.com. Allegheny Technologies Incorporated is one of the largest and most diversified specialty materials producers in the world, with revenues of approximately $1.9 billion in 2002. The Company has nearly 8,800 employees worldwide and its talented people use innovative technologies to offer growing global markets a wide range of specialty materials. High-value products include nickel-based and cobalt-based alloys and superalloys, titanium and titanium alloys, specialty steels, super stainless steel, exotic alloys, which include zirconium zirconium (zərkō`nēəm), metallic chemical element; symbol Zr; at. no. 40; at. wt. 91.22; m.p. about 1,852°C;; b.p. 4,377°C;; sp. gr. 6.5 at 20°C;; valence +2, +3, or +4. , hafnium hafnium (hăf`nēəm), metallic chemical element; symbol Hf; at. no. 72; at. wt. 178.49; m.p. about 2,227°C;; b.p. 4,602°C;; sp. gr. 13.31 at 20°C;; valence +4. and niobium niobium (nīō`bēəm), metallic chemical element; symbol Nb; at. no. 41; at. wt. 92.9064; m.p. about 2,468°C;; b.p. 4,742°C;; sp. gr. 8.57 at 20°C;; valence +2, +3, +4, or +5. , tungsten materials, and highly engineered strip and Precision Rolled Strip(R) products. In addition, we provide commodity specialty materials such as stainless steel sheet and plate, silicon and tool steels, and forgings and castings. The Allegheny Technologies website can be found at www.alleghenytechnologies.com. |
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