Dennis M. Oates of Universal Stainless to Receive 2023 Philadelphia Titan 100 Award
09 Agosto 2023 - 6:00AM
Universal Stainless & Alloy Products, Inc. (Nasdaq:
USAP) announced today that Dennis M. Oates, Chairman,
President and CEO, has been selected as a 2023 Titan 100, one of
Philadelphia’s Top CEO’s. The award is given for exceptional
leadership, vision, passion, and influence in an executive’s field.
Representing such industries as technology,
manufacturing, education, healthcare, and construction/real estate
among others, the 2023 Philadelphia Titan 100 and their companies
collectively employ more than 98,000 individuals and generate over
$33 billion dollars in annual revenues.
Mr. Oates has held Senior Executive positions at
several Philadelphia area metals companies including Lukens Inc.,
TW Metals and Carpenter Technology. After joining the Universal
Stainless Board of Directors in 2007, Oates was named President and
Chief Executive Officer in 2008 and elected Chairman of the Board
in 2010. He also serves as Chairman of the Board of the Specialty
Steel Industries of North America, the trade association
representing major specialty steel producing mills.
He is highly regarded for his extensive knowledge
of the global specialty steel and aerospace markets. During his
tenure, Universal has introduced advanced manufacturing technology
and related new premium products substantially increasing its
presence in the aerospace market. The company currently has a
record order backlog in excess of $350 million, over 30% of which
is new premium products introduced in recent years.
He is also a product of Philadelphia-based
education having graduated from Father Judge High School and earned
a BS in Economics from the Wharton School of the University of
Pennsylvania and an MBA from Temple University.
Mr. Oates commented: “Universal Stainless has a
talented management team and a skilled, dedicated workforce. While
I am honored to receive this award, it is truly a recognition of
their hard work and commitment to overcome any obstacle in
achieving our plans for future profitable growth. They are the real
Titans.”
About Universal Stainless & Alloy
Products, Inc.
Universal Stainless & Alloy Products, Inc.,
established in 1994 and 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 Company's products are used in a
variety of industries, including aerospace, power generation, oil
and gas, and heavy equipment manufacturing. 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 Company’s actual results in future
periods to differ materially from forecasted results. Those risks
include, among others, the Company’s ability to maintain its
relationships with its significant customers and market segments;
the Company’s response to competitive factors in its industry that
may adversely affect the market for finished products manufactured
by the Company or its customers; the Company’s ability to compete
successfully with domestic and foreign producers of specialty steel
products and products fashioned from alternative materials; changes
in overall demand for the Company’s products and the prices at
which the Company is able to sell its products in the aerospace
industry, from which a substantial amount of its sales is derived;
the Company’s ability to develop, commercialize, market and sell
new applications and new products; the receipt, pricing and timing
of future customer orders; the impact of changes in the Company’s
product mix on the Company’s profitability; the Company’s ability
to maintain the availability of raw materials and operating
supplies with acceptable pricing; the availability and pricing of
electricity, natural gas and other sources of energy that the
Company needs for the manufacturing of its products; risks related
to property, plant and equipment, including the Company’s reliance
on the continuing operation of critical manufacturing equipment;
the Company’s success in timely concluding collective bargaining
agreements and avoiding strikes or work stoppages; the Company’s
ability to attract and retain key personnel; the Company’s ongoing
requirement for continued compliance with laws and regulations,
including applicable safety and environmental regulations; the
ultimate outcome of the Company’s current and future litigation
matters; the Company’s ability to meet its debt service
requirements and to comply with applicable financial covenants;
risks associated with conducting business with suppliers and
customers in foreign countries; public health issues, including
COVID-19 and its uncertain impact on our facilities and operations
and its customers and suppliers and the effectiveness of the
Company’s actions taken in response to these risks; risks related
to acquisitions that the Company may make; the Company’s ability to
protect its information technology infrastructure against service
interruptions, data corruption, cyber-based attacks or network
security breaches; the impact on the Company’s effective tax rates
from changes in tax rules, regulations and interpretations in the
United States and other countries where it does business; and the
impact of various economic, credit and market risk uncertainties.
Many of these factors are not within the Company’s control and
involve known and unknown risks and uncertainties that may cause
the Company’s 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 Company’s 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
Company’s control. Certain of these risks and other risks are
described in the Company’s filings with the SEC, including the
Company’s Annual Report on Form 10-K for the year ended December
31, 2022, copies of which are available from the SEC or may be
obtained upon request from the Company.
CONTACTS: |
Dennis M. Oates |
Steven V. DiTommaso |
June Filingeri |
|
Chairman, |
Vice President and |
President |
|
President and CEO |
Chief Financial Officer |
Comm-Partners LLC |
|
(412) 257-7609 |
(412) 257-7661 |
(203) 972-0186 |
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