Universal Stainless & Alloy Products, Inc. Announces Price Increase.BRIDGEVILLE, Pa.--(BUSINESS WIRE)--October 11, 1999-- Universal Stainless & Alloy Products, Inc. (Nasdaq:USAP USAP Universal Stainless & Alloy Products USAP United States Antarctic Program USAP Union Sportive Arlequins Perpignan (French rugby team) USAP Uniform Single Attestation Program (Mortgage Bankers Association) ) announced today that it will initiate a price hike of 5% on all 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. billet and bar products in the 300 and 400 series and precipitation hardening alloys effective with orders placed October 15, 1999. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Company President and Chief Executive Officer, Clarence M. "Mac" McAninch, the increase is required to offset higher raw material and energy costs. Universal Stainless & Alloy Products, Inc., headquartered in Bridgeville, Pa., manufactures and markets semi-finished and finished specialty steels, including stainless steel, tool steel and certain other alloyed steels. The Company's products are sold to rerollers, forgers, service centers and original equipment manufacturers, which primarily include the power generation and aerospace industries. -0- Except for historical information contained herein, the statements in this release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions 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. Forward-looking statements involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to differ materially from forecasted results. Those risks include, among others, risks associated with the receipt and timing of future customer orders, risks associated with the manufacturing process and production yields, risks related to property, plant and equipment. Certain of these risks and other risks are described in the Company's filings with the Securities and Exchange Commission (SEC) over the last 12 months, copies of which are available from the SEC or may be obtained upon request from the Company. |
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