AP - Ampco-Pittsburgh Stock Skyrocket 70% In Pre-Market Following $11.7M Deals Secured By Subsidiary | Benzinga
Shares of Ampco-Pittsburgh Corporation (NYSE:AP) soared nearly 70% during Wednesday’s pre-market after its subsidiary, Union Electric Steel Corporation, secured contracts estimated at $11.7 million.
What Happened: At the time of writing, Ampco-Pittsburgh was trading at $1.290 after it closed at $0.7649, according to Benzinga Pro.
As per their press release Wednesday, Union Electric Steel Corporation will provide rolls for two new rolling mill projects in Mexico and Scandinavia, with deliveries expected in the first half of 2025.
The contracts include a $6.7 million agreement with Ternium Mexico S.A. de C.V., a leading North American steel producer, and a $5 million deal with a major European OEM mill ...