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Article: Pennsylvania Firm to Reopen Dunkirk, N.Y., Steel Plant.
- Article from:
- The Buffalo News (Buffalo, NY)
- Article date:
- February 18, 2002
CopyrightCOPYRIGHT 2002 The Buffalo News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Matt Glynn
Feb. 18--A Pennsylvania company plans to revive a Dunkirk specialty steel plant that closed last June.
Universal Stainless and Alloy Products in Bridgeville, Pa., acquired the assets of Empire Specialty Steel for $4 million from the New York State Job Development Authority.
Empire was in default under its agreements with the JDA and the agency had foreclosed on the property. Universal is buying the operation with $1 million in cash and $3 million in notes payable to the JDA.
Universal plans to make the Dunkirk plant operational within one month, with estimated start-up costs of $300,000 to $500,000.
Empire ...