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ATI Allegheny Ludlum Announces Grain-Oriented Silicon Electrical Steel Price Increase
Business Wire, July 6, 2005
PITTSBURGH -- Allegheny Technologies Incorporated (NYSE:ATI) announced that ATI Allegheny Ludlum, an Allegheny Technologies company, is increasing prices by approximately 26% for grain-oriented silicon electrical steel products. The price increase is effective with shipments beginning on August 1, 2005. All surcharges for grain-oriented silicon electrical steel remain in effect. This price increase is necessary for capital investment and growth.
Grain-oriented silicon electrical steel is used in the manufacture of power distribution and power generation transformers for the electrical energy market.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act 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.
ATI Allegheny Ludlum, an Allegheny Technologies company, is a world leader in the production and marketing of sheet, plate, and strip specialty materials including stainless steel, nickel-based alloys, titanium, and titanium-based alloys. The company also produces grain-oriented silicon electrical steel products, and tool steel plate. The Allegheny Ludlum website can be found at www.alleghenyludlum.com.
Allegheny Technologies Incorporated (NYSE:ATI) is one of the largest and most diversified specialty materials producers in the world, with revenues of approximately $2.7 billion during 2004. The Company has approximately 9,000 full-time employees world-wide who use innovative technologies and advanced research and development to offer growing global markets a wide range of specialty materials solutions. 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, hafnium and niobium, tungsten materials, and highly engineered strip and Precision Rolled Strip(R) products. In addition, we produce 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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