Ampco-Pittsburgh Subsidiaries to Increase Price on Forged and Cast Rolls

April 18, 2018

CARNEGIE, Pa.–(BUSINESS WIRE)–Ampco-Pittsburgh Corporation (NYSE: AP) announced today that its
subsidiary, Union Electric Steel Corporation (“Union Electric Steel”),
will raise prices on forged and cast roll products that it and its
subsidiaries produce globally. These subsidiaries include the acquired
companies formerly comprising the Åkers Group (“Åkers”). This increase
is effective immediately on all new orders received as of April 18,
2018, or as relevant contract terms permit.

The price adjustments are driven by upward pricing pressures on the cost
of raw materials and other steelmaking consumables, increasing
production costs due to growing product demand and other global
inflationary factors. As a direct consequence, Union Electric Steel is
increasing its pricing levels by approximately 8-10% for all forged and
cast roll product lines worldwide.

Commenting on the announcement, Rodney Scagline, President of Union
Electric Steel, stated, “Our business continues to be impacted by the
increasing costs of key raw materials, such as electrodes and
refractories. In addition, as the overall metal industry has ramped
activity, other manufacturing and supply chain costs, such as cutting
tool inserts, labor, and transportation, have increased dramatically. We
are particularly concerned about the cost of freight within North
America following the recently adopted Electronic Logging Device Rule.
Union Electric Steel must recover these costs to be able to invest in
our operations in order to maintain a reliable supply of rolls to our
customers.”

About Ampco-Pittsburgh Corporation

Ampco-Pittsburgh Corporation, through its operating subsidiary, Union
Electric Steel Corporation, is a leading producer of forged and cast
rolls for the worldwide steel and aluminum industries, as well as ingot
and open die forged products for the oil and gas, aluminum, and plastic
extrusion industries. Ampco-Pittsburgh is also a producer of air and
liquid processing equipment, primarily custom-engineered finned tube
heat exchange coils, large custom air handling systems and centrifugal
pumps. The Corporation operates manufacturing facilities in the United
States, Canada, United Kingdom, Sweden, Slovenia, and China. Sales
offices are located in North and South America, Asia, Europe, and the
Middle East. Corporate headquarters is located in Carnegie, Pennsylvania.

The Private Securities Litigation Reform Act of 1995 (the “Act”)
provides a safe harbor for forward-looking statements made by or on our
behalf. This news release may contain forward-looking statements that
reflect our current views with respect to future events and financial
performance. All statements in this document other than statements of
historical fact are statements that are, or could be, deemed
forward-looking statements within the meaning of the Act. In this
document, statements regarding future financial position, sales, costs,
earnings, cash flows, other measures of results of operations, capital
expenditures or debt levels and plans, objectives, outlook, targets,
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forward-looking statements. Forward-looking statements speak only as of
the date on which such statements are made, are not guarantees of future
performance or expectations, and involve risks and uncertainties. For
Ampco-Pittsburgh, these risks and uncertainties include, but are not
limited to, those described under Item 1A, Risk Factors, of
Ampco-Pittsburgh’s Annual Report on Form 10-K. In addition, there may be
events in the future that we are not able to predict accurately or
control which may cause actual results to differ materially from
expectations expressed or implied by forward-looking statements. Except
as required by applicable law, we assume no obligation, and disclaim any
obligation, to update forward-looking statements whether as a result of
new information, events or otherwise.