SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 20, 2002
Universal Stainless & Alloy Products, Inc.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 000-25032 25-1724540
- ------------------------------ -------------- -------------------
(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)
Registrant's telephone number, including area code: (412) 257-7600
Item 5. Other Events.
On November 20, 2002, Universal Stainless & Alloy Products, Inc. (the
"Company") announced that the members of Local 3403 of the United Steelworkers
of America representing the employees at the Company's facility in Bridgeville,
PA have rejected an offer from management that included increased wages and
other benefits. The press release, dated November 20, 2002, issued by the
Company with respect to this matter is attached hereto as Exhibit 99.1 and is
hereby incorporated herein by reference in its entirety.
The foregoing description is qualified in its entirety by reference to
the complete text of the press release as set forth in Exhibit 99.1.
Item 7. Financial Statements and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits
Exhibit 99.1 Press Release dated November 20, 2002.
Page 2 of 4
SIGNATURE
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.
By: /S/ RICHARD M. UBINGER
-------------------------------------
Vice President of Finance,
Chief Financial Officer and Treasurer
Dated: November 20, 2002
Page 3 of 4
EXHIBIT INDEX
---------
Exhibit 99.1 Press Release dated November 20, 2002.
Page 4 of 4
UNIVERSAL STAINLESS & ALLOY PRODUCTS, INC.
600 Mayer Street o Bridgeville, Pennsylvania 15017
CONTACTS: Richard M. Ubinger
Vice President of Finance,
Chief Financial Officer and Treasurer
(412) 257-7606
FOR IMMEDIATE RELEASE
Comm-Partners LLC
June Filingeri
(203) 972-0186
UNIVERSAL STAINLESS PROVIDES UPDATE ON BRIDGEVILLE
LABOR NEGOTIATIONS
BRIDGEVILLE, PA, November 20, 2002 - Universal Stainless & Alloy Products,
Inc. (Nasdaq:USAP) reported today that the members of Local 3403 of the United
Steelworkers of America (USWA) representing the employees at the Company's
facility in Bridgeville, PA have rejected an offer from management that included
increased wages and other benefits. At this time the employees continue to work
under a day-to-day extension of a prior agreement, which otherwise would have
expired August 31, 2002. The Company's facilities in Dunkirk, NY and Titusville,
PA are covered by separate collective bargaining agreements.
Mac McAninch, President and Chief Executive Officer, commented: "We are
committed to working with the USWA to obtain an agreement for our Bridgeville
employees."
ABOUT UNIVERSAL STAINLESS & ALLOY PRODUCTS, INC.
Universal Stainless & Alloy Products, Inc., headquartered in Bridgeville,
PA, manufactures and markets a broad line of semi-finished and finished
specialty steels, including stainless steel, tool steel and certain other
alloyed steels. The Company's products are sold to original equipment
manufacturers, service centers, forgers, rerollers and wire redrawers.
- MORE -
UNIVERSAL STAINLESS PROVIDES BRIDGEVILLE LABOR UPDATE- Page 2 -
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 COMPANY'S ACTUAL RESULTS IN FUTURE PERIODS TO DIFFER
MATERIALLY FROM FORECASTED RESULTS. THOSE RISKS INCLUDE, AMONG OTHERS, RISKS
ASSOCIATED WITH THE ACQUISITION OF THE EMPIRE SPECIALTY STEEL ASSETS AND THE
SUCCESSFUL START-UP OF DUNKIRK SPECIALTY STEEL LLC, RISKS ASSOCIATED WITH THE
NEGOTIATION OF A NEW COLLECTIVE BARGAINING AGREEMENT WITH THE HOURLY EMPLOYEES
AT THE BRIDGEVILLE FACILITY, RISKS ASSOCIATED WITH THE RECEIPT, PRICING AND
TIMING OF FUTURE CUSTOMER ORDERS, RISKS RELATED TO THE FINANCIAL VIABILITY OF
CUSTOMERS, RISKS ASSOCIATED WITH THE MANUFACTURING PROCESS AND PRODUCTION
YIELDS, AND RISKS RELATED TO PROPERTY, PLANT AND EQUIPMENT. CERTAIN OF THESE
RISKS AND OTHER RISKS ARE DESCRIBED IN THE COMPANY'S 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.
# # #