Kaiser Aluminum Posts Further Reduction in Energy Surcharge
Kaiser Aluminum (NASDAQ:KALU) today announced that the applicable energy surcharge for November shipments of fabricated products will be:
6xxx alloys: $0.014 per pound All other alloys: $0.021 per pound
This is a reduction from the October surcharge of $0.019 per pound for 6xxx alloys and $0.029 for all other alloys. The reduction in the surcharge was driven by a continued decline in natural gas, electricity and diesel prices. The surcharges are based on a calculation tied to indices provided by the U.S. Department of Energy and are updated on a monthly basis. Customers can view the formulas for calculating surcharges on the Kaiser Aluminum Web site at www.kaiseraluminum.com. Information on how these surcharges impact specific products are also included on the site.
Kaiser Aluminum, headquartered in Foothill Ranch, Calif., is a leading producer of fabricated aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The company’s North American facilities annually produce more than 500 million pounds of value-added sheet, plate, extrusions, forgings, rod, bar and tube products, adhering to traditions of quality, innovation and service that have been key components of our culture since the company was founded in 1946. The company’s stock is included in the Russell 2000(R) index. For more information, please visit www.kaiseraluminum.com.
Certain statements in this release relate to future events and expectations and, as a result, constitute forward-looking statements involving known and unknown risks and uncertainties that may cause actual results, performance or achievements of the company to be different from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include: (a) the effectiveness of management’s strategies and decisions; (b) the ability of the company to effectively recover higher costs; (c) the company’s ability to reduce costs to mitigate inflationary pressure; (d) adverse changes in economic or aluminum industry conditions generally; (e) adverse changes in the markets served by the company, including the aerospace, defense, general engineering, automotive, distribution and other markets; (f) the company’s ability to leverage its technologies and the Kaiser Production System methodology; and (g) the other risk factors summarized in the company’s Form 10-K for the year ended December 31, 2007 and other reports filed with the Securities and Exchange Commission.