Universal Stainless & Alloy Products completed its purchase of the assets of Patriot Special Metals, a substantially completed greenfield facility located in North Jackson, Ohio. The acquired assets include a state-of-the-art radial forge currently being commissioned, a vacuum induction melting (VIM) facility now under construction, two vacuum arc remelt (VAR) furnaces scheduled for delivery in September, and related equipment for heat treating and finishing long products.
The facility is on schedule to be fully operational in the first quarter of 2012. According to Universal, the acquisition redefines its position in the specialty-steel industry, broadens its production capabilities and product range in higher-value, higher-margin products, and enables its entry into new global market niches. News of the acquisition first broke in mid-June.
Universal Completes Purchase of Patriot Special Metals
August 22, 2011