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ATI Allegheny Ludlum Announces Stainless Steel Price Increases
CONTACT:
Dan L. Greenfield
(412) 394-3004PITTSBURGH, Pennsylvania -- May 5, 2006 -- Allegheny Technologies Incorporated (NYSE:ATI) announced that ATI Allegheny Ludlum is increasing selling prices for most cold-rolled and hot-rolled stainless steel sheet and strip products, including tubular products and continuous-mill-plate products by approximately 6%. ATI Allegheny Ludlum is also increasing its polish and Kool Line® finish extras by 10%. These price increases are effective with shipments beginning May 22, 2006.
ATI Allegheny Ludlum is also increasing selling prices for 200, 300 and 400 series stainless plate-mill-plate products by approximately $0.075 per pound. The published extras for exact length and mill depot are also being increased. These price increases are effective with shipments beginning May 30, 2006.
The price increases are necessary to support continued capital investments and growth.
Surcharges remain in effect as described on the Allegheny Ludlum website www.alleghenyludlum.com.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainties and changes in circumstances. Actual results may differ materially from those expressed or implied in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in Allegheny Technologies' filings with the Securities and Exchange Commission. We assume no duty to update our forward-looking statements.
ATI Allegheny Ludlum is a world leader in the production and marketing of sheet, plate, and strip specialty metals including stainless steel, nickel-based alloys, titanium, and titanium-based alloys, grain-oriented silicon electrical steel and tool steel. ATI Allegheny Ludlum's website can be found at www.alleghenyludlum.com.
Allegheny Technologies Incorporated is one of the largest and most diversified specialty metals producers in the world with revenues of $3.7 billion during the most recent four quarters ending March 31, 2006. ATI has approximately 9,300 full-time employees world-wide who use innovative technologies to offer growing global markets a wide range of specialty metals solutions. Our major markets are aerospace and defense, chemical process industry/oil and gas, electrical energy, medical, automotive, food equipment and appliance, machine and cutting tools, and construction and mining. Our products include nickel-based alloys and superalloys, titanium and titanium alloys, stainless and specialty steels, zirconium, hafnium, and niobium, tungsten materials, grain-oriented silicon electrical steel and tool steels, and forgings and castings. The Allegheny Technologies website is www.alleghenytechnologies.com.
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