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.
