LATROBE, Pa.--(BUSINESS WIRE)--Latrobe Specialty Steel announces it will increase prices by 5 to 15 percent on all high speed and tool steels, CPM powder products sold through Latrobe Distribution, air melt stainless steels, remelted alloys and nickel based superalloys. The price increase is effective immediately on all new inquiries and with all new orders received beginning February 14, 2011. Raw material surcharges will remain in effect.
“This price increase will enable Latrobe Specialty Steel to recover the increasing operational costs that we are experiencing due to higher demands for specialty alloys servicing the aerospace, defense, energy, hydrocarbon, and industrial markets,” said Mark T. Weberding, Vice President of Marketing & Sales - Manufacturing. “In addition, this increase will allow us to accelerate several planned capital expenditures in order to upgrade existing equipment to ensure reliably short lead-times to our customers.”
Latrobe Specialty Steel, in continuous operation in the same location since 1913, employs over 800 people across the world. Latrobe Specialty Steel supplies essential materials to the aerospace, defense, energy, hydrocarbon and tool steel sectors. Please visit www.latrobesteel.com for additional information about the company and its products or contact Lisa Pierce at 724-532-6324 or lisa.pierce@latrobesteel.com to arrange an interview.