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Wheeling-Pittsburgh Announces Additional Raw Materials Surcharge

Feb. 10, 2004 — Wheeling-Pittsburgh Steel Corp. announced an additional $12 per ton surcharge on shipments of all steel and steel products effective Monday, February 16, 2004. At that time, the surcharge will be in effect until further notice.

Steven W. Sorvold, WPSC Vice President—Commercial and COO of Wheeling Corrugating Co., said that the continued increases in the cost of raw materials led to the additional surcharge. The $12 increase brings the total surcharge to $42 per ton.

"The rapid increase in our costs of raw materials is unlike anything this industry has ever experienced. We hope that this surcharge is only for a short period of time. Our costs of raw materials will be the deciding factor on how long this surcharge will last," said Sorvold.

Wheeling-Pittsburgh Steel Corp. is a metal products company with 3,100 employees in facilities located in Steubenville, Mingo Junction, Yorkville, and Martins Ferry, Ohio; Beech Bottom and Follansbee, W.Va.; and Allenport, Pennsylvania. The company's Wheeling Corrugating Division has 12 plants located throughout the United States.

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