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Carpenter Technology Implements Titanium Surcharge
WYOMISSING, Pa.--(BUSINESS WIRE)--April 21, 2005--The Specialty Alloys Operations unit of Carpenter Technology Corporation (NYSE:CRS) announced today that it will begin to include titanium in its raw material surcharge formula for titanium bearing grades of specialty alloys. The change in the surcharge will go into effect with shipments beginning May 1, 2005. The surcharge will be based upon the monthly price of MW U.S. Turning 0.05%, as published by Platts Metals Week, using a base price of $2 per pound.
The company said that the surcharge is necessary to offset the significant increase in the cost of titanium, which is used in the manufacture of some of its specialty alloy products.
Carpenter Technology, based in Wyomissing, Pa., is leading manufacturer and distributor of specialty alloys and engineered products. More information about Carpenter Technology and Specialty Alloys Operations is available at www.cartech.com.
CONTACT: Carpenter Technology Corporation, Wyomissing
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