Universal Stainless Names Brian A. Kane as Vice President of Sales and Marketing
Universal Stainless & Alloy Products has announced the appointment of Brian A. Kane as the new Vice President of Sales and Marketing, effective immediately. Kane has been with the company since 2008, serving as National Sales Manager since 2015, where he focused on business development and customer relationships. His promotion reflects the company's strategy to enhance leadership as they aim for growth. Christopher Zimmer, the newly appointed Executive VP and COO, expressed confidence in Kane’s abilities to contribute significantly to the company’s growth objectives. Universal Stainless specializes in producing and marketing specialty steels, serving industries like aerospace and power generation.
Investors should note the potential implications of this leadership change on future sales and overall performance.
- Brian A. Kane's promotion to Vice President of Sales and Marketing may enhance sales strategies.
- Kane's long tenure at the company suggests stability and continuity in leadership.
- The company faces inherent risks, including competition and market demand fluctuations.
BRIDGEVILLE, Pa., April 06, 2023 (GLOBE NEWSWIRE) -- Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) today announced that Brian A. Kane has been named Vice President of Sales and Marketing for the Company. The appointment is effective immediately. He will continue to report directly to Christopher Zimmer, recently named Executive Vice President and Chief Operating Officer of Universal.
Since 2015, Mr. Kane has served as National Sales Manager of the Company, with a focus on business development and top customer relationships, growth initiatives and pricing models, as well as the maintenance of raw material surcharges. Mr. Kane joined Universal in 2008 as Regional Sales Representative with responsibilities for the Midwest region. From 2002 to 2008, Mr. Kane was with Schmolz+Bickenbach USA, including serving as National Sales Manager. Mr. Kane was on the sales team at Carpenter Technology Corporation from 1990 to 2002.
Mr. Zimmer commented: “We are pleased to promote Brian to the post of Vice President of Sales & Marketing. He has been an integral part of our sales success during his time at Universal. He is well respected by our customers and the entire organization. We are confident Brian will make an important contribution to our leadership team and will play an essential role in achieving our growth strategy.”
About Universal Stainless & Alloy Products, Inc.
Universal Stainless & Alloy Products, Inc., established in 1994 and 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. More information is available at www.univstainless.com.
Forward-Looking Information Safe Harbor
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the “safe harbor” provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company’s actual results in future periods to differ materially from forecasted results. Those risks include, among others, the Company’s ability to maintain its relationships with its significant customers and market segments; the Company’s response to competitive factors in its industry that may adversely affect the market for finished products manufactured by the Company or its customers; the Company’s ability to compete successfully with domestic and foreign producers of specialty steel products and products fashioned from alternative materials; changes in overall demand for the Company’s products and the prices at which the Company is able to sell its products in the aerospace industry, from which a substantial amount of its sales is derived; the Company’s ability to develop, commercialize, market and sell new applications and new products; the receipt, pricing and timing of future customer orders; the impact of changes in the Company’s product mix on the Company’s profitability; the Company’s ability to maintain the availability of raw materials and operating supplies with acceptable pricing; the availability and pricing of electricity, natural gas and other sources of energy that the Company needs for the manufacturing of its products; risks related to property, plant and equipment, including the Company’s reliance on the continuing operation of critical manufacturing equipment; the Company’s success in timely concluding collective bargaining agreements and avoiding strikes or work stoppages; the Company’s ability to attract and retain key personnel; the Company’s ongoing requirement for continued compliance with laws and regulations, including applicable safety and environmental regulations; the ultimate outcome of the Company’s current and future litigation matters; the Company’s ability to meet its debt service requirements and to comply with applicable financial covenants; risks associated with conducting business with suppliers and customers in foreign countries; public health issues, including COVID-19 and its uncertain impact on its facilities and operations and our customers and suppliers and the effectiveness of the Company’s actions taken in response to these risks; risks related to acquisitions that the Company may make; the Company’s ability to protect its information technology infrastructure against service interruptions, data corruption, cyber-based attacks or network security breaches; the impact on the Company’s effective tax rates from changes in tax rules, regulations and interpretations in the United States and other countries where it does business; and the impact of various economic, credit and market risk uncertainties. Many of these factors are not within the Company’s control and involve known and unknown risks and uncertainties that may cause the Company’s actual results in future periods to be materially different from any future performance suggested herein. Any unfavorable change in the foregoing or other factors could have a material adverse effect on the Company’s business, financial condition and results of operations. Further, the Company operates in an industry sector where securities values may be volatile and may be influenced by economic and other factors beyond the Company’s control. Certain of these risks and other risks are described in the Company’s filings with the SEC, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, copies of which are available from the SEC or may be obtained upon request from the Company.
| CONTACTS: | Dennis M. Oates | Steven V. DiTommaso | June Filingeri |
| Chairman, | Vice President and | President | |
| President and CEO | Chief Financial Officer | Comm-Partners LLC | |
| (412) 257-7609 | (412) 257-7661 | (203) 972-0186 |
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