SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): February 4, 2004
Universal Stainless & Alloy Products, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 000-25032 25-1724540
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
600 Mayer Street, Bridgeville, Pennsylvania 15017
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (412) 257-7600
Item 5. Other Events.
On February 4, 2004, Universal Stainless & Alloy Products, Inc. (the
"Company"), announced that it had submitted a bid in accordance with procedures
approved by the United States Bankruptcy Court for the idled Fort Wayne, Indiana
specialty steel bar facility of Slater Steels Corporation, the U.S. subsidiary
of Slater Steel, Inc.
The press release, dated February 4, 2004, 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.
Item 7. Financial Statements and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits
Exhibit 99.1 Press Release dated February 4, 2004.
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
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Vice President of Finance,
Chief Financial Officer and Treasurer
Dated: February 4, 2004
EXHIBIT INDEX
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Exhibit 99.1 Press Release dated February 4, 2004.
Exhibit 99.1
[GRAPHIC OMITTED][GRAPHIC OMITTED]
Universal Stainless & Alloy Products, Inc.
600 Mayer Street o Bridgeville, Pennsylvania 15017
CONTACT: 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 Submits Bid for Fort Wayne Plant of Slater Steel
BRIDGEVILLE, PA, February 4, 2004 -- Universal Stainless & Alloy Products,
Inc. (Nasdaq:USAP) reported today that it has submitted a bid, in accordance
with procedures approved by the U.S. Bankruptcy Court, to purchase the assets of
the idled Fort Wayne, Indiana specialty steel bar facility of Slater Steels
Corporation, the U.S. subsidiary of Slater Steel Inc. (TSX:SSI), of
Mississsauga, Ontario, Canada. The Company's bid of $3,190,000 has been
submitted in order to participate in the auction scheduled for February 11. Both
Slater Steel Inc. and Slater Steels Corporation filed for bankruptcy protection
in 2003. The Company noted that because of its strong balance sheet, it has the
flexibility to finance the proposed acquisition with its own cash, through
borrowings or through other sources.
Mac McAninch, President and Chief Executive Officer of Universal Stainless,
commented: "Acquiring the Fort Wayne facility is a strategic opportunity for our
company. It would expand our offering of specialty steel products, including
round bar products up to 8 inches in diameter. If our bid is successful, we plan
to use these assets in a manner consistent with our other acquisitions and the
operating philosophy of our company."
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.
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 potential acquisition of the idled facility in Fort Wayne,
Indiana, limited operating history of Dunkirk Specialty Steel LLC, 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.