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Carpenter Announces Energy Surcharge
WYOMISSING, Pa.--(BUSINESS WIRE)--Oct. 3, 2005--Carpenter Technology Corporation (NYSE:CRS) said today that its Specialty Alloys Operations (SAO) unit is implementing an energy surcharge on all orders shipped after October 15. The surcharge will apply to all SAO stainless and specialty alloy products and reflects dramatic increases in natural gas prices.
Carpenter will calculate its monthly energy surcharge, that only reflects natural gas at this time, by subtracting the base rate of $6.00 per thousand cubic feet (MCF) of natural gas from the monthly closing NYMEX settlement price, as reported in Platts Gas Daily. The calculation further considers the amount of natural gas used to produce various product forms by applying a multiplying factor. Carpenter said the increase is necessary due to escalating energy costs.
Carpenter Technology, based in Wyomissing, Pa., is leading manufacturer and distributor of specialty alloys and engineered products. More information about Carpenter and Specialty Alloys Operations is available at www.cartech.com.
CONTACT: Carpenter Technology Corporation, Wyomissing
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