WHEELING, W.Va., Sept. 13 /PRNewswire-FirstCall/ -- Wheeling-Pittsburgh
Steel Corporation (Nasdaq: WPSC) today announced it is implementing a raw
materials surcharge of $75 per ton on shipments of all steel products, as well
as the continuation of a motor carrier fuel surcharge. The raw materials
surcharge is effective Sunday, Sept. 18, 2005.
"The surcharge reflects significant increases in our costs," said Steve
Sorvold, Vice President, Commercial. "The cost of scrap, natural gas and
transportation that were already increasing have all risen dramatically since
the disruptions caused by Hurricane Katrina. Natural gas is at record high
levels. The surcharge reflects the unprecedented effect of Hurricane Katrina
on these and other tightening raw material supplies."
About Wheeling-Pittsburgh:
Wheeling-Pittsburgh is a steel company engaged in the making, processing
and fabrication of steel and steel products using both integrated and electric
arc furnace technology. The Company's products include hot rolled and cold
rolled sheet and coated products such as galvanized, pre-painted and tin mill
sheet. The Company also produces a variety of steel products including roll
formed corrugated roofing, roof deck, floor deck, bridgeform and other
products used primarily by the construction, highway and agricultural markets.
This release may contain projections or other forward-looking statements
regarding future events or the future financial performance of Wheeling-
Pittsburgh Corporation that involve risks and uncertainties. Readers are
cautioned that these forward-looking statements are only predictions and may
differ materially from actual future events or results. Readers are referred
to the "Business - Risk Factors" section of the Company's Annual Report on
Form 10-K for the year ended December 31, 2004, and other reports and filings
with the SEC, which identify important risk factors that could cause actual
results to differ from those contained in the forward-looking statements.
SOURCE Wheeling-Pittsburgh Steel Corporation
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Related links:
http://www.wpsc.com
Company News On-Call:
http://www.prnewswire.com/comp/967451.html
CONTACT:
Jim Kosowski of Wheeling-Pittsburgh Steel
Corporation, +1-304-234-2440
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