Universal eyes 2014 turnaround: Oates

Feb 11, 2014 | 05:55 PM | Rey Mashayekhi

Tags  Universal Stainless & Alloy Products, Carpenter Technology, North Jackson, Athens, steel, stainless steel, alloy steel, aerospace Dennis Oates

NEW YORK — Universal Stainless & Alloy Products Inc. expects to see "a significant increase in buying" this year as its key aerospace end market emerges from an 18-month cycle of destocking, chairman, president and chief executive officer Dennis Oates told AMM in an interview.

The Bridgeville, Pa.-based company started 2014 "with more wind at our back" after experiencing a 6-percent year-on-year increase in tons shipped to aerospace consumers in the fourth quarter, as well as an 8-percent increase to power generation customers, according to Oates, who was in New York speaking at Cowen & Co.’s 35th Annual Aerospace/Defense Conference and Transportation Conference Feb. 6.

"First of all, we’ve seen (order entry) bookings accelerate 26 percent sequentially (in the fourth quarter), 42 percent year over year, so obviously that’s something tangible," he told AMM when asked for his 2014 outlook. "Customers are typically talking about a decent year in 2014. And the important thing to the mill is we’re not talking (aerospace) destocking anymore. So to the degree (aerospace customers) buy just to their requirement, mills are going to see a significant increase in buying."....

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