Wheeling-Pittsburgh Steel Corporation Announces Price Increase
WHEELING, W.Va., March 1 /PRNewswire-FirstCall/ -- Wheeling-Pittsburgh Steel Corporation (NASDAQ:WPSC) announced today that it will raise transaction prices $50 per ton with orders scheduled for shipments effective April 1, 2007.
"This price increase is in response to increased demand for carbon steel flat rolled products," said Thomas E. Mihelcic, Vice President-Commercial. "We believe the Domestic Steel marketplace continues to improve with strong underlying fundamentals and rapidly improving Service Center inventories. Moreover, Global Steel demand is robust across all industry segments." About Wheeling-Pittsburgh: Wheeling-Pittsburgh was organized as a Delaware corporation on June 27, 1920 under the name Wheeling Steel Corporation. Its headquarters is located in Wheeling, WV, with major production facilities in the Upper Ohio and Monongahela valleys. Wheeling-Pittsburgh is a holding company that, together with its several subsidiaries and joint ventures, produces steel and steel products using both integrated and electric arc furnace technology. The Company has slab making production capacity of 2.8 million short tons and hot rolling capacity of 3.4 million short tons. Approximately 65 percent of its sales are comprised of high value-added products. DATASOURCE: Wheeling-Pittsburgh Steel Corporation CONTACT: Jim Kosowski of Wheeling-Pittsburgh Steel Corporation, +1-304-234-2440 Web site: http://www.wpsc.com/ Company News On-Call: http://www.prnewswire.com/comp/967451.html
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