Ampco-Pittsburgh Subsidiaries to Increase Price on Forged and Cast Rolls
Ampco-Pittsburgh Corporation (AP)
Last ampco-pittsburgh corporation earnings: 11/7 08:20 am
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Source: Business Wire
CARNEGIE, Pa.--(BUSINESS WIRE)-- Ampco-Pittsburgh Corporation (NYSE: AP) announced today that its subsidiary, Union Electric Steel Corporation (“Union Electric Steel”), will raise prices on forged and cast roll products that it and its subsidiaries produce globally. These subsidiaries include the acquired companies formerly comprising the Åkers Group (“Åkers”). This increase is effective immediately on all new orders received as of April 18, 2018, or as relevant contract terms permit. The price adjustments are driven by upward pricing pressures on the cost of raw materials and other steelmaking consumables, increasing production costs due to growing product demand and other global inflationary factors. As a direct consequence, Union Electric Steel is increasing its pricing levels by approximately 8-10% for all forged and cast roll product lines worldwide. Commenting on the announcement, Rodney Sc
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