Universal Alloy Offers Statement Related to 'Baseless' Suit by Alcoa

Universal Alloy Corporation (UAC) today issued the following statement in response to a lawsuit filed in a Georgia federal court by Alcoa, Inc.: Universal Alloy Corporation vehemently denies the allegations in Alcoa's complaint and will vigorously defend itself. Alcoa's claims are baseless and without merit. UAC has invested millions of dollars to develop stretch-forming capability in its Canton, Ga. facility to manufacture stretch-formed products for Boeing. It did so by partnering with an independent company that designs, manufactures and installs stretch formers and has been doing so for decades. UAC neither has, nor needs, Alcoa's proprietary information. "We made an enormous investment in our physical plant to service one of our longest standing customers, Boeing. As a result, we were awarded a sizeable contract," said Chip Poth, CEO of UAC. "This lawsuit is nothing more than an attempt by Alcoa to stifle competition." UAC is proud of its long-standing relationship with The Boeing Company. On April 15, 2015, Boeing presented UAC with a prestigious Supplier of the Year award. UAC was one of 14 companies and one university recognized for exceptional performance and contributions to Boeing's success during 2014. "Boeing is committed to continuing our relationship with UAC," said Kent Fisher, vice president and general manager, Boeing Commercial Airplanes Supplier Management. "We believe UAC's investment in new, state-of-the-art technologies improves the competitiveness in our supply base and will benefit our customers through production of high quality stretch form products."