When Dennis Oates was named president and CEO of Universal Stainless & Alloy Products Inc. in 2008, he took on the central challenge facing the company — transforming a small specialty metals producer into a global enterprise offering technologically advanced products to the aerospace, power generation, oil and gas and automotive markets.
During the first three years of his tenure as CEO, which included taking on the additional responsibilities of chairman in 2010, Oates substantially increased the company’s efficiency and customer service efforts. He recognized, however, that expanding the sophistication of Universal’s product capabilities would require advanced, multimillion-dollar equipment along with the investment in the capabilities of employees throughout the company.
The transformation currently underway at Universal began with Oates’ decision to acquire Patriot Special Metals, a partially-completed “greenfield” steel facility in nearby North Jackson, Ohio, in 2011. This acquisition was highly strategic and essential for advancing the company’s position within the specialty steel industry.
One of the key assets acquired was the largest hydraulic radial forge in the Western Hemisphere, which immediately expanded the company’s product range and reduced costs by moving formerly outsourced services in-house.
The acquisition also included a Vacuum Induction Melting furnace. Adding Universal’s first VIM furnace enabled the company to enter selected, global markets for high-nickel alloys and super alloys used for aircraft and rotorcraft parts and gears.
With this bold move, Oates put the pieces in place to substantially broaden Universal’s production capabilities, improve the company’s overall profit potential, expand its product range in higher value and higher margin products, and enable its entry into new market niches. ●
How to reach: Universal Stainless & Alloy Products Inc., (412) 257-7600 or www.univstainless.com
2013 PACESETTER CLASS:
(Click below to read their profile.)
- Winner - Troy Gregory, president and CEO, System One Holdings LLC
- Honoree - Dennis Oates, president and CEO, Universal Stainless & Alloy Products Inc.
- Winner - Ken Zeff, founder and CEO, Crazy Mocha
- Honoree - Thomas Mattei, associate dean of professional programs, Duquesne University Mylan School of Pharmacy
- Honoree - H. Rochelle Stachel, founder and CEO, HRV Conformance Verification Associates Inc.
- Honoree - Mark Brennan, president and CEO, Clearview Federal Credit Union
- Winner - Debra Mortillaro, co-owner, Dreadnought Wines
- Honoree - Charley Kennedy, managing principal, Fiducia Group
- Honoree - Darrin Grove, CEO, TrueFit