Universal Stainless & Alloy Products, Inc. has exited the auction for the assets of Slater Steel’s idled Fort Wayne, Ind., specialty steel bar facility.
The company made the decision after the bid exceeded Universal’s estimated value of the assets.
Slater Steels Corp. and its parent company Slater Steel Inc., Mississsauga, Ontario, both filed for bankruptcy protection last year.
Universal Stainless & Alloy Products, Inc. manufactures and markets a broad line of semi-finished and finished specialty steels, including stainless steel, tool steel and certain other alloyed steels.
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