Stainless steel company names president

Universal Stainless & Alloy Products Inc., said Tuesday that former Gibraltar Industries executive Kenneth M. Matz was named president of the Bridgeville-based stainless steel manufacturer.

Matz, 55, succeeds Clarence M. McAnich, who assumes the new title of chairman of the board. McAnich, 71, continues to serve as chief executive officer, a post he has held since founding the company in 1994.

Matz, who has more than 25 years experience in the processed metals industry, most recently served as president of the Processed Metals Group of Gibraltar Industries, a Buffalo, N.Y.-based manufacturer, processor and distributor of metals for the building, industrial and vehicular markets.

"Our choice of Ken Matz as the new president of Universal Stainless & Alloy Products reflects both the ideal combination of skills, experience and leadership qualities he brings to our company, as well as our confidence in our opportunity and future," McAnich said, in a statement Tuesday.

Matz held positions at Thomas Strip Steel, headquartered in Warren, Ohio, and U.S. Steel Corp. in Pittsburgh.

Universal Stainless employs about 500 people, with operations in Bridgeville, Titusville in Crawford County, and Dunkirk, N.Y.

Universal Stainless stock closed yesterday at $34.33, down 29 cents. The company expects to release fourth quarter 2006 results on Thursday.