Empire Specialty Steel, Dunkirk, N.Y., has been acquired by Universal Stainless & Alloy Products Inc. of Bridgeville, Pa. The stainless and alloy steelmaking facility had been in the possession of the New York Job Development Authority, which had foreclosed on it from the previous owners for $4 million.
According to a report from Industrial Information Resources Inc., Houston, Universal president and CEO Clarence McAninch says the acquisition will allow Universal to produce a broad range of finished product categories at a low cost. Universal’s management has previous experience in revitalizing its idled steel facilities in Bridgeville and Titusville, Pa.
The Empire mill has an annual capacity of about 50,000 tons per year. The new owners expect to call back 100 employees from the Empire workforce, and have the mill operational by April. Universal expects to invest up to $500,000 to renovate the facility. The mill has been shut down since the summer of 2001.
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