Carpenter Technology Raises Prices on Stainless Steels, Premium-Melted Specialty Alloys.Business Editors WYOMISSING, Pa.--(BUSINESS WIRE)--May 27, 2004 The Specialty Alloys Operations unit of Carpenter Technology Corp. (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 ) has announced that it will increase base prices 3-10 percent on stainless steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. bar, rod and wire products, effective with June 1 shipments. Carpenter also will increase base prices 5-10 percent on its premium-melted alloys. Carpenter also said that it has begun including manganese manganese (măng`gənēs, măn`–) [Lat.,=magnet], metallic chemical element; symbol Mn; at. no. 25; at. wt. 54.938; m.p. about 1,244°C;; b.p. about 1,962°C;; sp. gr. 7.2 to 7. in its raw material surcharge An overcharge or additional cost. A surcharge is an added liability imposed on something that is already due, such as a tax on tax. It also refers to the penalty a court can impose on a fiduciary for breaching a duty. mechanism for specialty alloy products. Carpenter said that the price increases are intended to partially offset the price erosion that has occurred over the last few years and to offset higher energy, supply and freight costs. Carpenter, based in Wyomissing, Pa., is a leading manufacturer and distributor of specialty alloys and various engineered products. Carpenter had sales of $871.1 million in fiscal 2003 (ended June 30, 2003). More information about Carpenter is available at www.cartech.com, with selected products available online at www.carpenterdirect.com. |
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