Allegheny Ludlum Adds Iron Component to Raw Materials Surcharge
02/11/2004 -
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Allegheny Ludlum Adds Iron Component to Raw Materials Surcharge
Feb. 11, 2004 — Allegheny Technologies Inc. announced that ATI Allegheny Ludlum plans to add an iron component to its raw materials surcharge formula, effective with shipments on February 16, 2004.
A surcharge of $60 per ton, or $0.03 per pound, is being applied to all stainless steel, nickel alloy and specialty steel products, including products sold under contracts. The iron component is subject to adjustment based on changes in raw materials costs. This addition is necessary to offset the rapid inflation of iron.
Allegheny Technologies Inc. is one of the largest and most diversified specialty materials producers in the world, with revenues of approximately $1.9 billion in 2003. The company has nearly 8,800 employees worldwide. 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. Commodity specialty materials include stainless steel sheet and plate, silicon and tool steels, and forgings and castings.
