Universal Stainless & Alloy Products, Inc. (Nasdaq:USAP) announced today that it has entered into an agreement with VSMPO, the largest titanium manufacturer in the world, to supply hot roll conversion services. The agreement reflects a strategic initiative by Universal Stainless to increase facility utilization company-wide through expansion of its conversion services.
Dennis Oates, Chairman, President and CEO, commented, "The agreement with VSMPO represents a significant expansion of our conversion services business which is a part of our long term strategic growth initiatives for Universal Stainless.
This program in combination with trials for other titanium and nickel alloy programs that are currently underway, have us on track to grow and diversify our revenue mix."
About Universal Stainless & Alloy Products, Inc.
Universal Stainless & Alloy Products, Inc., headquartered in Bridgeville, Pa., manufactures and markets semi-finished and finished specialty steels, including stainless steel, tool steel and certain other alloyed steels. The Company's products are used in a variety of industries, including aerospace, power generation, petrochemical and heavy equipment manufacturing. Established in 1994, our experience, technical expertise, and dedicated workforce stand committed to providing the best quality, delivery, and service possible.