SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) of the
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported): October 19, 1998
Universal Stainless & Alloy Products, Inc.
(Exact name of registrant as specified in charter)
Delaware 0-25032 25-1724540
(State or other jurisdiction (Commission file number) (IRS employer
of incorporation) identification no.)
600 Mayer Street 15017
Bridgeville, Pennsylvania (Zip code)
(Address of principal executive offices)
Registrant's telephone number, including
area code: (412) 257-7600
Item 5. Other Events.
On October 19, 1998, Universal Stainless & Alloy Products, Inc. (the
"Company") announced that it had entered into a letter of intent to acquire AL
Tech Specialty Steel Corporation ("AL Tech"), a subsidiary of Sammi Steel Co.,
Ltd. of Korea, in a transaction valued at approximately $38 million. The
transaction is subject to a number of conditions, including the completion of
due diligence procedures, the execution of a definitive purchase agreement,
successful negotiation of USWA labor and utility contracts, Hart-Scott-Rodino
review, and the approval of AL Tech's plan of reorganization by the United
States Bankruptcy Court for the Western District of New York. AL Tech filed a
voluntary petition for reorganization under Chapter 11 of the Federal Bankruptcy
Code on December 31, 1997 related to the earlier bankruptcy filing of its parent
Sammi Steel Co., Ltd. under Korean insolvency laws. A copy of the Company's
press release describing the proposed transaction is attached hereto as Exhibit
99.01 and is incorporated by reference herein in its entirety.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
99.01 Press Release of Universal Stainless & Alloy Products, Inc.
dated October 19, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
UNIVERSAL STAINLESS & ALLOY
PRODUCTS, INC.
Date: October 19, 1998 By: /s/ Clarence M. McAnnich
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Name: Clarence M. McAnnich
Title: President and Chief
Executive Officer
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EXHIBIT INDEX
EXHIBIT NO. DOCUMENT
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99.01 Press Release of Universal Stainless & Alloy Products, Inc. dated
October 19, 1998.
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