Allegheny Technologies Purchase of J&L Specialty Clears Antitrust Review
04/24/2004 -
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Allegheny Technologies
Purchase
of J&L Specialty Clears Antitrust Review
April 24, 2004 — The U. S. Department of Justice has granted Allegheny Technologies Inc.'s request for early termination of its antitrust review of ATI’s acquisition of certain assets of J&L Specialty Steel, LLC.
The acquisition, which is targeted for closing on May 3, 2004, will be made by a wholly owned subsidiary of ATI Allegheny Ludlum. The transaction remains subject to other closing conditions.
Allegheny Technologies Inc. is one of the largest and most diversified specialty materials producers in the world, with revenues of approximately $1.9 billion in 2003. The company’s high-value products include nickel-based and cobalt-based alloys and superalloys, titanium and titanium alloys, specialty steels, super stainless steel, exotic alloys, which include zirconium, hafnium and niobium, tungsten materials, and highly engineered strip and Precision Rolled Strip(R) products. Commodity specialty materials include stainless steel sheet and plate, silicon and tool steels, and forgings and castings.
