U.S. Markets closed

Universal Stainless Hikes Base Prices

Zacks Equity Research

Steel maker Universal Stainless & Alloy Products Inc. (USAP) announced that it has raised the base prices by 5% on all premium melted grades for products manufactured at its Bridgeville, Dunkirk and North Jackson facilities. The revision will be effective Apr 1, 2014, or as contracts permit. Existing material and energy surcharges will remain in effect.

This move testifies Universal Stainless’ commitment in providing its customers high quality steel with industry leading delivery performance and lead times. The price revision is also declared to support the company’s ongoing reinvestment strategy in the facilities to better serve the customers.

On Mar 5, Universal Stainless’ Bridgeville, Dunkirk and North Jackson facilities achieved Pratt & Whitney's Laboratory Control at Source (:LCS) approval. This approval will enable the company to capitalize on its synergies and provide additional product into the supply chain.

LCS is the system that certifies the testing and control of specified materials and processes used in Pratt & Whitney's aerospace products. Meeting the LCS standards is an important achievement for Universal Stainless. This breakthrough will allow Universal Stainless to gain approvals from other industry leading companies in the targeted markets.

Moreover, Universal Stainless’ North Jackson, OH facility achieved OHSAS 18001:2007 certification for the occupational health and safety activities related to melting, forging, heat treatment and finishing metal products, on Mar 3. OHSAS 18001:2007 is a process-based certification that recognizes organizations that link business objectives with operating effectiveness.

This achievement will add to Universal Stainless’ commitment toward maintaining a healthy and safe working environment, which is necessary for the success of the North Jackson facility and the continued growth of the company.

Universal Stainless currently carries a Zacks Rank #5 (Strong Sell).

Other metals companies having favorable Zacks Rank are Mitsui & Co. Ltd. (MITSY), Noranda Aluminum Holding Corp. (NOR) and Worthington Industries, Inc. (WOR). All of these stocks carry a Zacks Rank #2 (Buy).

Read the Full Research Report on USAP
Read the Full Research Report on WOR
Read the Full Research Report on MITSY
Read the Full Research Report on NOR

Zacks Investment Research