Universal Stainless buys Empire Assets

Universal Stainless & Alloy Products Inc. has acquired certain assets of Empire Specialty Steel Inc. from the New York Job Development Authority (JDA). The acquisition includes the inventory, property, plant and equipment, and selected intangible assets at a purchase price of USD 4.0 million. Located in Dunkirk, NY, Empire ceased operations on 29 June 2001 and was in default under its agreements with the JDA, which foreclosed on the property. With the addition of finished specialty steel rod and wire products and the expanded line of bar products, Universal Stainless hopes to broaden product offerings to existing customers, enter new market niches, and create additional higher-value products.

Previous articleSpace-saving storage
Next articleGas-powered station wins go-ahead
Stainless Steel World is part of The KCI Media Group, a group of companies focused on building and sustaining global communities in the flow control industries. We publish news on a daily basis and connect business-to-business professionals through our online communities, publications, conferences and exhibitions.