SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 28, 2017
Universal Stainless & Alloy Products, Inc.
(Exact name of registrant as specified in its charter)
|(State or other jurisdiction||(Commission||(IRS Employer|
|of incorporation)||File Number)||Identification No.)|
|600 Mayer Street, Bridgeville, Pennsylvania||15017|
|(Address of principal executive offices)||(Zip code)|
Registrants telephone number, including area code: (412) 257-7600
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):
|☐||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|☐||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|☐||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|☐||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
|Item 8.01.||Other Events.|
On June 28, 2017, Universal Stainless and Alloy Products, Inc. (the Company) issued a press release regarding a new collective bargaining agreement with union employees at its facility in Dunkirk, New York. A copy of the press release is filed herewith as Exhibit 99.1 and is incorporated herein by reference.
|Item 9.01.||Financial Statements and Exhibits.|
|99.1||Press Release dated June 28, 2017|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|UNIVERSAL STAINLESS & ALLOY PRODUCTS, INC.|
|Paul A. McGrath|
|Vice President of Administration,|
|General Counsel and Secretary|
Dated: June 28, 2017
|CONTACTS:||Dennis Oates||Paul M. McGrath||June Filingeri|
|President and CEO||General Counsel and||Comm-Partners LLC|
|(412) 257-7609||Corporate Secretary||(203) 972-0186|
FOR IMMEDIATE RELEASE
UNIVERSAL STAINLESS REACHES EARLY LABOR AGREEMENT AT ITS
BRIDGEVILLE, PA, June 28, 2017 Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) announced today that it has reached a new 5-year collective bargaining agreement with the hourly employees at its Dunkirk, NY facility represented by Local Unit 2693-01 of the United Steelworkers. The current contract is scheduled to expire on October 31, 2017.
The new 5-year collective bargaining agreement has been ratified by the bargaining unit and is effective as of November 1, 2017. The new contract maintains the flexible work rule terms and profit sharing incentives contained in the prior agreement.
Dennis Oates, President and Chief Executive Officer, commented: We are pleased that we were able to achieve an early labor agreement at our Dunkirk facility that is in the best interests of our employees, customers and shareholders.
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, nickel alloys, tool steel and certain other alloyed steels. The Companys products are used in a variety of industries, including aerospace, power generation, oil and gas, and heavy equipment manufacturing. Established in 1994, the Company, with its experience, technical expertise, and dedicated workforce, stands committed to providing the best quality, delivery, and service possible. More information is available at www.univstainless.com.
Forward-Looking Information Safe Harbor
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Companys actual results in future periods to differ materially from forecasted results. Those risks include, among others, the concentrated nature of the Companys customer base to date and the Companys dependence on its significant customers; the receipt, pricing and timing of future customer orders; changes in product mix; the limited number of raw material and energy suppliers and significant fluctuations that may occur in raw material and energy prices; risks related to property, plant and equipment, including the Companys reliance on the continuing operation of critical manufacturing equipment; risks associated with labor matters; the Companys ongoing requirement for continued compliance with laws and regulations, including applicable safety and environmental regulations; the ultimate outcome of the Companys current
and future litigation and matters; risks related to acquisitions that the Company may make; and the impact of various economic, credit and market risk uncertainties. Many of these factors are not within the Companys control and involve known and unknown risks and uncertainties that may cause the Companys actual results in future periods to be materially different from any future performance suggested herein. Any unfavorable change in the foregoing or other factors could have a material adverse effect on the Companys business, financial condition and results of operations. Further, the Company operates in an industry sector where securities values may be volatile and may be influenced by economic and other factors beyond the Companys control. Certain of these risks and other risks are described in the Companys filings with the Securities and Exchange Commission (SEC) over the last 12 months, copies of which are available from the SEC or may be obtained upon request from the Company.
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