Bridgeville-based Universal Stainless & Alloy Products, a manufacturer and marketer of semi-finished and finished specialty steels, recently announced it is raising the base price on bar products from between 9 percent and 12 percent.
The increase went into effect immediately. It does not affect material and energy surcharges.
“We are in an environment that has brought sharp inflationary cost increases to nearly all areas of our business, and it is necessary for us to adjust our pricing to keep up with this higher cost burden,” said Chris Zimmer, Universal Stainless & Alloy Products executive vice president and chief commercial officer. “We will continue to take the actions necessary to manage our organization and maintain our class-leading customer service levels and exceptional production quality standard.”
The company also recently announced it returned to full operating capacity at its Bridgeville Electric Arc Melting facility. In April, the facility experienced a metal spill caused by a breakthrough at the bottom of a furnace shell.
Other operations continued normally.
Founded in 1994, Universal Stainless & Alloy Products produces nickel alloys, stainless steel, tool steel, and other alloyed steels. Its products are used in the aerospace, heavy equipment manufacturing, power generation, and oil and gas industries.