Dunkirk Specialty Steel receives $10M investment for modernization (US)

Dunkirk Specialty Steel LLC, a leading U.S. manufacturer of semi-finished and finished specialty steel products, unveiled several state-of-the-art upgrades and modernization efforts at its Dunkirk facility. These renovations are the result of a $10 million capital investment from parent company Universal Stainless and Alloy Products, Inc., and collaborative efforts by the County of Chautauqua Industrial Development Agency, City of Dunkirk Department of Development, and NYS Empire State Development. The 800,000 square-foot facility has installed a new $10 million bar turn and burnish line, as well as a new General Electric phased array nondestructive testing system. The addition of the specialty equipment from Germany and Japan makes the Dunkirk-based unit finishing cell the most advanced in the United States. “This is more great news for Chautauqua County,” stated Mark Geise, Deputy County Executive for Economic Development/CEO of the County of Chautauqua Industrial Development Agency, “and demonstrates how collaboration at all levels can reap rewards for the County and the region. Dunkirk Specialty Steel LLC continues to up their game, and we’re glad we could be a part of it. I just want to thank Dunkirk Specialty Steel LLC and their parent company Universal Stainless and Alloy Products, Inc.; our economic development partners; and the CCIDA staff for making this project a reality.”

The CCIDA business development team partnered with City of Dunkirk Mayor Wilfred Rosas, City of Dunkirk Department of Development, and Empire State Development Corporation for a proactive negotiation with Universal Stainless, as the company analyzed facility investment opportunities throughout its corporate footprint. The project was subsequently secured for Dunkirk through the successful procurement of NYS Excelsior Jobs Program fully refundable tax credits and an Empire State Economic Development Fund grant, along with other incentives.

“The renovations and continued investment are big wins for Chautauqua County, ensuring the longevity of Dunkirk Specialty Steel’s operations by staying current and competitive,” said George Borrello, Chautauqua County Executive. “We’re thankful for outstanding partners like general manager Wendel Crosby, as well as the Universal Stainless’ Board of Directors for significant ongoing capital investment into their Dunkirk facility, thereby supporting local employment in Dunkirk.”

The equipment upgrades and installations occurred over the last several months, with the new units being employed for production in March 2019. Other significant interior updates were also made in preparation for the installation, including the addition of new high efficiency LED lighting. Equipment was delivered via 35 truck-loads, and took approximately 7,750 man hours to install 200 yards of concrete, 900 anchor bolts, 6,000 feet of conduit, 15,000 feet of tray cable for power and terminations, and 3,000 power and termination switches in the 15,000 square feet project area. Chautauqua County and Western New York companies that provided workers for the facility update include Hohl Industrial, Lehigh Construction Group, Frey Electric Construction Co. Inc., and Danforth Plumbing.

“The installation of modern equipment keeps us ahead of new mills and foreign competitors by allowing us to produce more bar products at a higher quality standard,”said Wendel Crosby, General Manager of Universal Stainless facilities in Dunkirk and Titusville, Pennsylvania. “It will also contribute to making our facility more efficient, with an eye towards increasing profitability and securing jobs in the community.”

“The collaboration with the City’s Development team and commitment from the Universal Stainless, Empire State Development, and CCIDA has been invaluable in creating and sustaining important manufacturing jobs in Dunkirk,” said Wilfred Rosas, Dunkirk City Mayor. “We’re proud to be the home of Dunkirk Specialty Steel and look forward to providing continued support to this important anchor business in the City of Dunkirk. This private investment shows the commitment of this company’s vibrant future here in the City of Dunkirk.”

The Dunkirk facility currently employs 285, a majority of which are skilled laborers who produce finished bar, rod, and wire products in a variety of specialty steel grades. Dunkirk Specialty Steel and parent company Universal Stainless and Alloy Products Inc. manufacture products that are sold globally for use in aerospace, heavy equipment, auto, power generation, and oil and gas industries around the world.

Source:

http://www.observertoday.com/news/local-region/2019/03/dunkirk-specialty-steel-receives-10m-investment-for-modernization/?fbclid=IwAR1Sm66Tv4Dh-_MSwglmBH8amNUTDEta7RrNngrnbNiO6dIcFuG-hWxlipQ

Posted in Investment.

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