Universal Stainless Reports Death of Founder Mac McAninch
11/30/2010 - Universal Stainless & Alloy Products, Inc. reported that its founder and recently retired Chairman, Clarence ("Mac") McAninch, passed away on November 27. McAninch founded Universal Stainless in 1994 by joining with a small group of investors to acquire the idled Stainless & Alloy Products Division of Armco Inc., in Bridgeville, Pa.
Universal Stainless & Alloy Products, Inc. reported that its founder and recently retired Chairman, Clarence ("Mac") McAninch, 75, passed away on November 27 following a brief illness.
McAninch founded Universal Stainless & Alloy Products in 1994 by joining with a small group of investors to acquire the idled Stainless & Alloy Products Division of Armco Inc., in Bridgeville, Pa., where he had been Vice President of Sales and Marketing. He served as President and Chief Executive Officer of Universal Stainless from 1994 to 2008, when he became Chairman of Board. He retired as Chairman in May 2010.
Under his leadership, the company acquired idled steel facilities in Titusville, Pa., and Dunkirk, N.Y., to become an integrated producer of semi-finished and finished specialty steel products.
McAninch spent the majority of his career in the steel industry having also served as Executive Vice President of Reese Tool and Metal Service Co. and as a General Manager at LTV Steel Corp.'s Hot Rolled and Cold Finished Bar Division. A native of Freeport, Pa., McAninch is survived by his wife Kay, three children, and four grandchildren.
Dennis M. Oates, Chairman, President and Chief Executive Officer of Universal Stainless, said, "Mac McAninch's clear and confident vision for this company and its place within the domestic steel industry along with his energy, enthusiasm, and discipline created a substantial foundation and legacy for Universal Stainless. He also inspired a generation of employees within our company, had friends throughout the industry and in the investment community, and was a deeply caring husband and father."
Universal Stainless & Alloy Products, Inc., headquartered in Bridgeville, Pa., manufactures and markets semi-finished and finished specialty steels, including stainless steel, tool steel, and other alloyed steels. The company's products are used in a variety of industries, including aerospace, power generation, petrochemical, and heavy equipment manufacturing.
