BRIDGEVILLE, Pa., Sept. 24, 2018 (GLOBE NEWSWIRE) -- Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP)announced today that Dennis M. Oates, Chairman, President and Chief Executive Officer, was named the Stainless Steel Executive of the Year 2018 at the 17th Annual Stainless & Special Steel Conference in Helsinki, Finland, which ran from September 18-20. The award is sponsored by Metal Bulletin and Steel & Metals Market Research (SMR).
Mr. Oates has worked in the stainless and specialty steel industry for over 40 years holding senior leadership roles at such companies as Lukens Steel, Connell Limited Partnership, TW Metals, Carpenter Technology and now Universal Stainless. Mr. Oates is the 12th recipient of the award, which recognizes industry professionals that have made significant contributions to the growth and prosperity of the stainless and specialty steel industry.
Since Mr. Oates joined Universal Stainless in 2008, the Company has invested heavily in new technology to improve operations and significantly expand the Company’s product portfolio to include more re-melted and finished products and vacuum induction melted premium products including nickel alloys. The Company recently reported record backlogs, the highest bookings in six years and a positive outlook for the remainder of the year, with premium alloys the fastest growing product classification. Approximately 55% of the Company’s sales are destined for the aerospace market.
“Denny is an outstanding personality and a hands-on CEO who always strikes the right balance between the big strategic picture, trouble-shooting daily operations and inspiring his entire team,” Markus Moll, Managing Director of SMR, said when presenting the award. “That’s why Denny has been selected unanimously by our panel of seven global industry leaders as Stainless Steel Executive of the year 2018,” Mr. Moll added.
Dennis Oates, Chairman, President and Chief Executive Officer, commented: “I am honored and humbled to accept this award. It has all been made possible for me by the outstanding dedication of our employees and their families, our committed Board of Directors, our loyal customers and stockholders, my family and countless friends and mentors. I sincerely thank them all.”
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.
