Sept. 18, 2013

ATI Sells Tungsten Business to Kennametal
 
Allegheny Technologies Inc., Pittsburgh, will sell its tungsten materials business to Kennametal Inc. for $605 million. The transaction is expected to be completed during the fourth quarter.

The tungsten materials business, called ATI Tungsten Materials, is part of ATI’s Engineered Products segment. ATI’s tungsten materials business has approximately 1,175 employees and produces tungsten powder, tungsten heavy alloys, tungsten carbide materials and carbide cutting tools. ATI’s tungsten materials business generated total net revenue of $338.6 million in 2012.

“ATI’s growth opportunities are in our High Performance Metals segment businesses, including precision forgings and titanium investment castings, and in our diversified Flat-Rolled Products segment business,” says Rich Harshman, ATI chairman, president and CEO. “The sale of our tungsten materials business to Kennametal, a recognized global leader in tungsten-based wear-resistant products, provides ATI with increased financial flexibility and simplifies capital allocation and deployment.”

“ATI’s Tungsten Materials Business brings vital strategic assets that are an excellent complement to Kennametal,” says Chairman, President and CEO Carlos Cardoso. “The addition of the expanded material and tooling technologies of ATI’s Tungsten Materials Business will enable us to offer more to our customers around the world.”

September 2016: Mixed Emotions About Defense Market Growth
More...
 
Pause
September 2016: Conventional Wisdom's Not Always Wise
More...
Fall 2015: Cutting & Sawing Equipment
More...
Summer 2016
More...
 
Pause
DoALL Launches Four New Saw Lines
More...
Behringer Expands Band Saw Line
More...
HYDMECH Saw Cuts Banded Material
More...
KASTO Pairs Band Saw with Moveable Table
More...
Marvel 600A-PC3 Designed for Bundle Cutting
More...
 
Pause
Privacy Statement  |  Terms Of Use
Copyright by Metal Center News



Sunday, December 4, 2016