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October 7, 2005 |
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Howard Industries announces that it is increasing prices for its transformer and voltage regulator products due to continued material and transportation cost increases. Of particular concern is the drastic increase in the cost associated with the manufacture of transformer and regulator cores. AK Steel and Allegheny Ludlum-the only domestic suppliers of silicon core steel-recently announced extremely large price increases for their products beginning with shipments on August 1, 2005*.
Transformer and voltage regulator price increases will apply immediately for all new quotations as listed below.
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New Quotations |
| Distribution transformers |
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15 % |
| Substation transformers |
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15 % |
| Voltage regulators |
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10 % |
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Current blanket contract pricing will also be reviewed, and each blanket contract customer will be contacted by a Howard Industries representative to discuss the magnitude of the resulting price increase which will become effective for shipments beginning January 1, 2006.
Howard Industries will continue its best efforts to mitigate cost increases affecting our business, so that we can minimize the impact on our valued customers.
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