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Special Metals Announces Pricing Modifications

5 January 2001

Special Metals Announces Pricing Modifications

    NEW HARTFORD, N.Y.--Jan. 5, 2001--Special Metals Corporation today announced a price increase ranging from four to eight percent for all nickel-alloy product forms, including ingot, billet, bar, rod, wire, sheet, strip, plate, and special shapes, effective with new orders placed January 8, 2001.
    Special Metals attributed the pricing modification to increasing costs in energy, transportation, and capital expenditures associated with the development of new technologies. Air-melted alloys will be increased by at least 4%, with vacuum-melted alloys being increased by 8%.
    Special Metals also stated that it will continue to monitor the volatility of energy costs to assess whether further actions may be warranted. Raw material surcharges will continue to remain in effect.
    Special Metals Corporation is the world's largest and most-diversified producer of nickel alloys. Special Metals' primary manufacturing facilities are located in New Hartford, N.Y., Huntington, W.Va., and Hereford, U.K. The Company's distribution network brings all major nickel alloy product forms to over 5,000 customers worldwide.