Universal Stainless and Alloy Products plans to spend $6 million this year on its Dunkirk, N.Y., steel plant, which it hopes to bring up to full production during the next three months.
Universal, based in Pennsylvania, acquired the assets of the former Empire Specialty Steel plant the middle of February through a $4 million deal with the state of New York’s Job Development Authority.
Universal disclosed its plans for the plant in documents filed with the Securities and Exchange Commission late last month. The company expects to spend $6 million to update the plant's technology and make other capital improvements to revive the operation. The plant closed last summer.
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