{"id":441598,"date":"2021-02-23T07:03:24","date_gmt":"2021-02-23T12:03:24","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=441598"},"modified":"2021-02-23T07:03:24","modified_gmt":"2021-02-23T12:03:24","slug":"universal-stainless-announces-base-price-increase","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/universal-stainless-announces-base-price-increase\/","title":{"rendered":"Universal Stainless Announces Base Price Increase"},"content":{"rendered":"
\n

BRIDGEVILLE, Pa., Feb. 23, 2021 (GLOBE NEWSWIRE) — Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP)<\/strong> today announced a base price increase of 3% to 10% on all products. The increase will be effective March 1, 2021 for all new orders. Current material and energy surcharges will remain in effect.<\/p>\n

Chris Zimmer, Executive Vice President and Chief Commercial Officer, commented, \u201cWe are committed to providing our customers high quality steel with industry leading delivery performance and lead times. Given the current inflationary environment, this price adjustment is necessary to support our operations and ongoing reinvestments into our facilities to better serve our customers.\u201d<\/p>\n

\n
\n About Universal Stainless & Alloy Products, Inc.<\/u>
\n <\/strong>\n <\/p>\n

Universal Stainless & Alloy Products, Inc., established in 1994 and headquartered in Bridgeville, PA, manufactures and markets semi-finished and finished specialty steels, including stainless steel, nickel alloys, tool steel and certain other alloyed steels. The Company’s products are used in a variety of industries, including aerospace, power generation, oil and gas, and heavy equipment manufacturing. More information is available at www.univstainless.com.<\/p>\n

\n
\n Forward-Looking Information Safe Harbor<\/u>
\n <\/strong>\n <\/p>\n

\n
\n Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the \u201csafe harbor\u201d 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\u2019s actual results in future periods to differ materially from forecasted results. Those risks include, among others, the Company\u2019s ability to maintain its relationships with its significant customers and market segments; the Company\u2019s response to competitive factors in its industry that may adversely affect the market for finished products manufactured by the Company or its customers; uncertainty regarding the progress of the return to service of the Boeing 737 MAX aircraft; the Company\u2019s ability to compete successfully with domestic and foreign producers of specialty steel products and products fashioned from alternative materials; changes in overall demand for the Company\u2019s products and the prices at which the Company is able to sell its products in the aerospace industry, from which a substantial amount of our sales is derived; the Company\u2019s ability to develop, commercialize, market and sell new applications and new products; the receipt, pricing and timing of future customer orders; the impact of changes in the Company\u2019s product mix on the Company\u2019s profitability; the Company\u2019s ability to maintain the availability of raw materials and operating supplies with acceptable pricing; the availability and pricing of electricity, natural gas and other sources of energy that the Company needs for the manufacturing of its products; risks related to property, plant and equipment, including the Company\u2019s reliance on the continuing operation of critical manufacturing equipment; the Company\u2019s success in timely concluding collective bargaining agreements and avoiding strikes or work stoppages; the Company\u2019s ability to attract and retain key personnel; the Company\u2019s ongoing requirement for continued compliance with laws and regulations, including applicable safety and environmental regulations; the ultimate outcome of the Company\u2019s current and future litigation matters; the Company\u2019s ability to meet its debt service requirements and to comply with applicable financial covenants; the ultimate outcome of the Company\u2019s PPP loan forgiveness application; risks associated with conducting business with suppliers and customers in foreign countries; public health issues, including COVID-19 and its uncertain impact on our facilities and operations and our customers and suppliers and the effectiveness of the Company\u2019s actions taken in response to these risks; risks related to acquisitions that the Company may make; the Company\u2019s ability to protect its information technology infrastructure against service interruptions, data corruption, cyber-based attacks or network security breaches; the impact on the Company\u2019s effective tax rates from changes in tax rules, regulations and interpretations in the United States and other countries where it does business; and the impact of various economic, credit and market risk uncertainties. Many of these factors are not within the Company\u2019s control and involve known and unknown risks and uncertainties that may cause the Company\u2019s actual results in future periods to be materially different from any future performance suggested herein. Any unfavorable change in the foregoing or other factors could have a material adverse effect on the Company\u2019s business, financial condition and results of operations. Further, the Company operates in an industry sector where securities values may be volatile and may be influenced by economic and other factors beyond the Company\u2019s control. Certain of these risks and other risks are described in the Company\u2019s filings with the SEC, including the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2020, copies of which are available from the SEC or may be obtained upon request from the Company.<\/em>
\n <\/strong>\ufeff<\/p>\n\n\n\n\n\n
CONTACTS:<\/td>\nDennis Oates<\/td>\n\u00a0<\/td>\nChristopher Scanlon<\/td>\n\u00a0<\/td>\nJune Filingeri<\/td>\n<\/tr>\n
\u00a0<\/td>\nChairman,<\/td>\n\u00a0<\/td>\nVP Finance, CFO<\/td>\n\u00a0<\/td>\nPresident<\/td>\n<\/tr>\n
\u00a0<\/td>\nPresident and CEO<\/td>\n\u00a0<\/td>\nand Treasurer<\/td>\n\u00a0<\/td>\nComm-Partners LLC<\/td>\n<\/tr>\n
\u00a0<\/td>\n(412) 257-7609\u00a0<\/td>\n\u00a0<\/td>\n(412) 257-7662<\/td>\n\u00a0<\/td>\n(203) 972-0186<\/td>\n<\/tr>\n<\/table>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

BRIDGEVILLE, Pa., Feb. 23, 2021 (GLOBE NEWSWIRE) — Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) today announced a base price increase of 3% to 10% on all products. The increase will be effective March 1, 2021 for all new orders. Current material and energy surcharges will remain in effect. Chris Zimmer, Executive Vice President and Chief Commercial Officer, commented, \u201cWe are committed to providing our customers high quality steel with industry leading delivery performance and lead times. Given the current inflationary environment, this price adjustment is necessary to support our operations and ongoing reinvestments into our facilities to better serve our customers.\u201d About Universal Stainless & Alloy Products, Inc. Universal Stainless & Alloy Products, Inc., established in 1994 and … <\/p>\n

Continue reading “Universal Stainless Announces Base Price Increase”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-441598","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nUniversal Stainless Announces Base Price Increase - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/universal-stainless-announces-base-price-increase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Universal Stainless Announces Base Price Increase - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BRIDGEVILLE, Pa., Feb. 23, 2021 (GLOBE NEWSWIRE) — Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) today announced a base price increase of 3% to 10% on all products. The increase will be effective March 1, 2021 for all new orders. Current material and energy surcharges will remain in effect. Chris Zimmer, Executive Vice President and Chief Commercial Officer, commented, \u201cWe are committed to providing our customers high quality steel with industry leading delivery performance and lead times. Given the current inflationary environment, this price adjustment is necessary to support our operations and ongoing reinvestments into our facilities to better serve our customers.\u201d About Universal Stainless & Alloy Products, Inc. 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