Carpenter Powder Products Announces Energy Surcharge.BRIDGEVILLE, Pa. -- Carpenter Powder Products Inc. (CPP cpp - C preprocessor. ), a subsidiary of Carpenter Technology Corporation Carpenter Technology Corporation (NYSE:CRS) is a leading manufacturer and distributor of specialty alloys, including stainless steel and titanium, and various engineered products made from metallic and ceramic materials. (NYSE NYSE See: New York Stock Exchange :CRS CRS Course CRS Certified Residential Specialist (real estate certification) CRS Central Reservation System CRS Can't Remember Stuff (polite form) CRS Cost Reduction Strategy CRS Consumer Relations Specialist ), said today that it will add an energy component to its surcharge calculation for all tool and high-speed steel products. The surcharge, effective immediately, is necessary due to the dramatic increase in natural gas prices. CPP will calculate its energy surcharge component monthly by subtracting the base rate of $6.00 per thousand cubic feet (MCF) of natural gas from the monthly closing NYMEX See New York Mercantile Exchange. NYMEX See New York Mercantile Exchange (NYM). settlement price, as reported in Platts Gas Daily. The calculation further considers the amount of natural gas used to produce various product forms by applying a multiplying factor. CPP, based in Bridgeville, Pa., is a leading global manufacturer of gas atomized specialty metal powders and consolidated powder metallurgy products. Carpenter, based in Wyomissing, Pa., is a leading manufacturer and distributor of specialty alloys and engineered products. More information about Carpenter and CPP is available at www.cartech.com. |
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