Universal Stainless submits offer for Slater's Fort Wayne facility

Universal Stainless submits offer for Slater’s Fort Wayne facility

Recent news in the market reports that, Universal Stainless & Alloy Products, Inc has recently submitted offer for assets of Slater Steels Corp's specialty steel bar facility Fort Wayne Ind. As previously reported by SteelOrbis, Slater Steels Corp had filed for bankruptcy protection. Accordingly, an auction will be held in US Bankruptcy Court on February 11, 2004 for the sales of assets of Fort Wayne. Bid of Universal Stainless is $3.2 million. An official from Universal Stainless stated that the takeover of the assets will enable the company to focus on specialty steel products, thus leading them to meet requirements of their customers.