Universal in midst of 'major transformation'

Jul 31, 2014 | 03:47 PM | Rey Mashayekhi

Tags  Universal Stainless & Alloy Products, stainless steel, premium alloys, specialty alloys, Dennis Oates, Rey Mashayekhi

NEW YORK — Universal Stainless & Alloy Products Inc. is "in the middle of a major transformation" as the company continues to seek customer approvals and expand its premium alloy sales, chairman, president and chief executive officer Dennis Oates told AMM in a July 31 interview.

The Bridgeville, Pa.-based steelmaker posted net income of $1.4 million in the second quarter, triple the $478,000 recorded in the same year-ago period, on sales that increased nearly 22 percent to $52.3 million, according to the company’s quarterly earnings report. The latest results also marked a turnaround from the first-quarter net loss of $499,000 (amm.com, May 1).....

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