Olin Brass Announces Product and Price Adjustments
East Alton, IL – Olin Brass, a division of Global Brass & Copper, recently announced the completion of a comprehensive business-wide strategic examination of its businesses in order to drive a step-change in performance and to strengthen the overall value proposition to its customers.
In a letter to its account base dated September 8, Olin Brass indicated that a primary component of its strategic review was a thorough examination of its current product mix offerings. Thomas J. Werner, Vice President of Marketing and Sales, stated “ While Olin Brass is recognized as offering the largest range of alloys and product combinations in the industry, based on the findings of this review, it was necessary to modify pricing within certain product categories”.
To this end, effective with new orders shipped beginning November 19, 2010, Olin Brass announced new price schedules that reflect fabrication adders to specific alloys, including C110, phosphor bronzes, 700 series alloys and certain high performance materials. Along with these changes, Olin Brass also announced it would be eliminating a small number of product categories.
Finally, Olin Brass has informed all supply chain partners that prices will be quoted as “Price In Effect” unless otherwise negotiated for a specific customer contract.
About Global Brass and Copper, Inc.
Headquartered in Schaumburg, Illinois, Global Brass and Copper, Inc. (“GBC”) is the leading manufacturer and distributor of copper and copper-alloy sheet, strip, plate, foil, rod, and fabricated components in North America and one of the largest in the world. GBC employs over 2,000 employees, and operates manufacturing facilities in East Alton, Illinois; Montpelier and Bryan, Ohio; Waterbury, Connecticut; and Cuba, Missouri; along with joint ventures in Japan and China. The company also operates A.J. Oster, the leading service center and distributor of brass and copper products in North America. GBC and its subsidiaries sell products under the Olin Metals, Olin Brass, and Chase Brass brand names. For further information visit www.gbcmetals.com, www.olinbrass.mainteractive-host2.com, or www.chasebrass.com
GBC is owned by KPS Capital Partners, LP, the manager of the KPS Special Situations Funds, a family of private equity funds with over $2.6 billion of committed capital focused on constructive investing in restructurings, turnarounds and other special situations. The KPS investment strategy and portfolio companies are described in detail at the firm’s website: www.kpsfund.com.