LAFAYETTE, IN -- (Marketwire) -- 08/28/08 -- Wabash National Corporation (NYSE: WNC) announced today that prices of its trailer products will increase an average of 5 percent effective for new orders booked on or after Oct. 1, 2008, with an additional increase ranging from 3 to 5 percent effective Jan. 1, 2009.
Commenting on these developments, Dick Giromini, President and Chief Executive Officer, stated, "The costs of raw materials and purchased components have been rising at unprecedented rates for the past few years and have continued throughout 2008. Steel costs have more than doubled this year alone, and aluminum is now projected to increase another 45 percent by year end. While we have historically adjusted our pricing models as material costs have climbed over time, we felt that with such significant adjustments we owe it to our customers to provide them as much advanced notice as possible. As always, we continue to aggressively seek ways to contain costs and provide the best value to our customers."
About Wabash National
Headquartered in Lafayette, Ind., Wabash National® Corporation (NYSE: WNC) is one of the leading manufacturers of semi trailers in North America. Established in 1985, the company specializes in the design and production of dry freight vans, refrigerated vans, flatbed trailers, drop deck trailers, dump trailers, truck bodies and intermodal equipment. Its innovative core products are sold under the DuraPlate®, ArcticLite®, FreightPro(TM) Eagle® and Benson(TM) brand names. The company operates two wholly owned subsidiaries; Transcraft ® Corporation, a manufacturer of flatbed, drop deck, dump trailers and truck bodies; and Wabash National Trailer Centers, trailer service centers and retail distributors of new and used trailers and aftermarket parts throughout the U.S.
This release contains certain forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are, however, subject to certain risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Without limitation, these risks and uncertainties include increased competition, reliance on certain customers and corporate partnerships, shortages of raw materials, dependence on industry trends, access to capital, acceptance of new technology and products, cost-saving initiatives, efficiency improvements and government regulation. Readers should review and consider the disclosures made by the Company in this release, in its reports to its stockholders and in periodic reports on Forms 10-K and 10-Q.
We cannot give assurance that the expectations reflected in our forward-looking statements will prove to be correct. Our actual results could differ materially from those anticipated in these forward-looking statements. All forward looking statements attributable to us are expressly qualified in their entirety by the factors we disclose that could cause our actual results to differ materially from our expectations.
VP, Marketing and Sales