By Stephen Nakrosis
Ampco-Pittsburgh said its wholly-owned Union Electric Steel subsidiary will raise base prices on all forged and cast products produced globally by it and its subsidiaries.
The price increases of 6% to 8% are effective immediately on all new orders, and material and energy surcharges will remain in effect, the company said.
The company said the hikes are driven by inflationary cost increases in labor, health care, mill supplies, and other elements not included in the surcharge. Skip Reinert, the company's vice president of sales and marketing, said "this price adjustment is necessary to maintain a reliable security of supply of superior quality of all our products for our customers."
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
March 11, 2025 16:31 ET (20:31 GMT)
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