Universal Stainless & Alloy Products Inc. has announced that its Board of Directors has approved the purchase of a seventh vacuum arc remelt furnace, which will be the second such furnace installed at its Bridgeville facility. Vacuum arc remelting is a value-added process required to produce high quality grades of steel primarily for aerospace applications. It is expected to be operational in September 2006. The project, including equipment purchase and installation, is estimated to cost between USD 2 million to USD 2.5 million and will be financed initially through the Company’s existing credit facility.
