Olin Brass Announces Price Adjustment
Louisville, KY – GBC Metals, LLC doing business as Olin Brass, a subsidiary of Global Brass and Copper, Inc., recently announced the completion of a comprehensive review of its businesses as well as its continuous efforts to accomplish productivity improvements, equipment reliability, efficiencies and product and service development.
In a letter to its account base dated January 27, 2012, Olin Brass indicated that it has been able to manage and match its manning levels with economic swings while addressing a shift in demand in several key markets. Thomas J. Werner, Vice President of Marketing and Sales, stated, “Olin Brass has worked very hard to manage all aspects of our costs throughout each of its businesses. Our efforts continue to be underpinned by Olin Brass’s long and proud traditions and our goal remains consistent – to offer the very best of quality products, service and value in the marketplace”. However, fabrication costs have been directly impacted by escalating inflationary factors particular to supplies, maintenance, energy and health care.
To offset a portion of these costs, effective with new orders entered for shipment beginning March 1, 2012, and beyond, Olin Brass is increasing all fabrication charges by .05 cents per pound. This change applies to all alloys, including 100-200 series as well as all high performance alloys. This modification includes all OEM commercial customers, all supply chain partners, including AJ Oster, as well as all Olin Brass downstream businesses such as Bryan Metals, Fabricated Products, Fineweld Tube and Somers Thin Strip. All existing written agreements will be honored.
About Global Brass and Copper Holdings, Inc.
Headquartered in Schaumburg, Illinois, Global Brass and Copper Holdings, Inc., (“GBC”) is a leading manufacturer and distributor of copper and copper-alloy strip, sheet, plate, foil, rod and fabricated components in North America and one of the largest in the world. GBC employs approximately 1900 employees worldwide, most of whom are employed through one of its wholly-owned subsidiaries. The companies of GBC, which include GBC Metals, LLC doing business as Olin Brass, Chase Brass, LLC, and A.J. Oster, LLC, and their divisions and subsidiaries, operate manufacturing and distribution facilities in Illinois, Ohio, Rhode Island, Connecticut, California, Mexico, and Puerto Rico, along with joint ventures in Japan and China. GBC’s companies market and sell products under a variety of trademarks and trade names including Olin Brass, Chase Brass, Fineweld Tube, Somers Thin Strip, Blue Dot, Green Dot, Eco Brass, and CuVerro. For further information visit www.gbcmetals.com.
GBC is owned by KPS Capital Partners, LP, the manager of the KPS Special Situations Funds, a family of private equity limited partnerships with over $2.7 billion of assets under management 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.
Thomas J. Werner, Vice President of Marketing & Sales
4801 Olympia Park Plaza Suite 3500; Louisville, KY 40241