Universal Stainless & Alloy Products, headquartered in Bridgeville, Pennsylvania, has acquired the Patriot Special Metals’ assets in North Jackson, Ohio.
Universal Stainless & Alloy Products is a manufacturer and marketer of finished and semi-finished specialty steel such as tool steel, stainless steel and other alloyed steel. These products have application in a wide range of industries, including heavy equipment manufacturing, petrochemical, power generation and aerospace.
Patriot Special Metals is a large greenfield plant and its construction is nearly complete. The purchase includes two Vacuum Arc Remelt (VAR) furnaces, a Vacuum Induction Melting (VIM) plant that is currently under construction and a modern forge commissioned at present. In addition, other equipment for heat treating long products and finishing are also acquired by Universal Stainless & Alloy Products. The Patriot Special Metals facility will commence operation in early 2012.
The current purchase is a significant milestone for Universal Stainless & Alloy Products and it redefines the company’s position in the specialty steel industry. The transaction helps to expand the company’s product range and production capabilities, as well as allow them to enter into new worldwide markets. In addition, the acquisition increases Universal Stainless & Alloy Products’ capability to better serve its clients by offering unparalleled service via decreased lead and cycle times.
Source: http://www.univstainless.com/