BRIDGEVILLE, Pa., Sept. 14, 2017 (GLOBE NEWSWIRE) -- Universal Stainless & Alloy Products, Inc. (Nasdaq:USAP) announced today that it experienced a fire at its Dunkirk, New York facility. The fire originated and was contained within the steel pickling area of the facility. At this time the exact cause of the fire is still being investigated and damages are being assessed. No injuries resulted from the fire. Preliminary cost estimates, net of insurance, are expected to be in the range of $0.03 to $0.06 per share. The Company is in the process of making repairs in order to operate the pickling operation on a limited basis while utilizing outside resources to supplement the operations. The Company does not expect the fire to have a significant impact to our customer order deliveries.

Chairman, President and CEO Dennis Oates commented: “We are grateful that no one was injured during the fire and our sincere thanks go out to the City of Dunkirk firefighters, the West Dunkirk Fire Department and the Chautauqua County Hazmat team for their quick response and their efforts to extinguish the fire in short order and prevent any releases or spills. We have some work in front of us to get the pickling operation back to full operation, however we are determined to do what is necessary to maintain the delivery status of our customer orders."

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.