BRIDGEVILLE, Pa., Sept. 7, 2006 (PRIMEZONE) -- Universal Stainless & Alloy Products, Inc. (Nasdaq:USAP) today announced base price increases of 3% on all air melted and premium melted stainless and high-strength low alloy grade products. The increase on air melted products will be effective with all new orders placed and shipments scheduled on or after September 11, 2006. The increase on premium melted products will be effective with all new orders placed and shipments scheduled on or after January 1, 2007. The material and energy surcharges will remain in effect.
Richard Hack, Vice President of Sales and Marketing, commented, "While the surcharge mechanism addresses changes in pure commodity costs, other costs not covered have continued to increase as well. These 'hidden' costs have become a more significant share of our total product cost, necessitating this increase in base pricing so we can continue to reinvest in our operations to serve the needs of our customers."
About Universal Stainless & Alloy Products, Inc.
Universal Stainless & Alloy Products, Inc., headquartered in Bridgeville, Pa., manufactures and markets a broad line of 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, original equipment manufacturers and wire redrawers.
Forward-Looking Information Safe Harbor
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that 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, pricing and timing of future customer orders, risks associated with significant fluctuations that may occur in raw material and energy prices, risks associated with the manufacturing process and production yields, risks related to property, plant and equipment and risks related to the ultimate outcome of the Company's current and future litigation and regulatory matters. 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.