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Power Partners Will Increase Prices
Due to Higher Material Costs
ATHENS, GA, February 1, 2005--Power Partners Inc. announced today a 6.0% price increase, effective immediately, on all distribution transformers manufactured by Power Partners in Athens. This increase is applicable to all new quotations. Existing blanket contracts will be addressed on an individual basis.
The company must implement this price increase to offset further increases in the costs of all major commodity materials (carbon steel, aluminum, copper, oil, electrical steel) for transformers. The average increases we have seen in these commodities are as follows:
- Carbon Steel - increased 113% in 2004
- Aluminum - increased 22% in 2004
- Copper - increased 46% in 2004
- Oil - increased 34% in 2004
- Electrical Steel increased 24% in 2004
These increases are being felt across all domestic businesses, and are being driven primarily by the global commodity markets.
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