BRIDGEVILLE, Pa., Nov. 12, 2013 (GLOBE NEWSWIRE) -- Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP ) announced today that Graham McIntosh, Ph.D., has been named to the position of Vice President and Chief Technology Officer, effective November 11, 2013. Dr. McIntosh succeeds Dr. Vijay Madi, who has assumed the newly created position of Executive Director of Product Development.
Dr. McIntosh, 50, is an accomplished metallurgist, who has focused on transformational technologies during his career. He has deep expertise in a range of metals including nickel-based superalloys, titanium and stainless steel. In addition to having extensive experience in the aerospace sector, Dr. McIntosh is also highly knowledgeable about the power generation and oil industries. He is recognized as an effective leader and mentor of technical teams.
Before joining Universal Stainless, Dr. McIntosh was Director of Global Technology Initiatives for Carpenter Technology Corporation, which he joined in 2008. He previously served as Vice President of Technology and Director of Quality for Firth Rixson Viking and also held several management and technical positions at Wyman-Gordon Livingston, where he began his career. A native of Scotland, Dr. McIntosh received his BS and Ph.D. in Metallurgy from the University of Strathclyde in Glasgow and his MBA from the University of Edinburgh.
Dr. Madi, who joined Universal Stainless in 2011, will be responsible for driving the development of new products and processes for the Company.
Dennis Oates, Chairman, President and Chief Executive Officer, commented: "Graham McIntosh is a highly accomplished individual with the ideal background, direct style and track record to lead and develop our technology team at Universal Stainless as well as deepen our relationship with customers. From a single person department five years ago, our technology team today consists of more than 25 metallurgists, including a number with graduate and Ph.D. degrees. The addition of Graham McIntosh and the new responsibilities of Vijay Madi intensify our resources to focus on rapidly developing higher value, more technologically advanced products. This is key to our growth strategy. We look forward to the contributions each of them will make to our long-term goals. "
About Universal Stainless & Alloy Products, Inc.
Universal Stainless & Alloy Products, Inc., 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. Established in 1994, the Company, with its experience, technical expertise, and dedicated workforce, stands committed to providing the best quality, delivery, and service possible. 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 concentrated nature of the Company's customer base to date and the Company's dependence on its significant customers; the receipt, pricing and timing of future customer orders; changes in product mix; the limited number of raw material and energy suppliers and significant fluctuations that may occur in raw material and energy prices; risks related to property, plant and equipment, including the Company's reliance on the continuing operation of critical manufacturing equipment; risks associated with labor matters; 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 and matters; risks related to acquisitions that the Company may make; 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 Securities and Exchange Commission (SEC) over the last 12 months, copies of which are available from the SEC or may be obtained upon request from the Company .
Dennis Oates Chairman, President and CEO (412) 257-7609 Michael Bornak VP Finance, CFO and Treasurer (412) 257-7606 June Filingeri President Comm-Partners LLC (203) 972-0186
