Allegheny Technologies to Acquire Crucible Assets
09/22/2009 - Allegheny Technologies expects to purchase the assets of Crucible Compaction Metals and Crucible Research for $40.95 million.
Allegheny Technologies Inc. announced that it expects to purchase the assets of Crucible Compaction Metals and Crucible Research for $40.95 million as a result of an auction held on September 21 as part of a U.S. Bankruptcy Court proceeding.
The transaction is expected to close no later than October 31.
Allegheny Technologies Inc. is one of the largest and most diversified specialty metals producers in the world with revenues of $5.3 billion during 2008. ATI has about 8700 full-time employees worldwide. Its major markets are aerospace and defense, chemical process industry/oil and gas, electrical energy, medical, automotive, food equipment and appliance, machine and cutting tools, and construction and mining. Its products include titanium and titanium alloys, nickel-based alloys and superalloys, grain-oriented electrical steel, stainless and specialty steels, zirconium, hafnium, and niobium, tungsten materials, and forgings and castings.
Crucible Materials Corp. is a Syracuse, NY-based producer and distributor of specialty metals and powders with manufacturing facilities in New York and Pennsylvania, a research facility in Pennsylvania, and service centers throughout North American. Crucible Research is based in Pittsburgh, Pa., while Crucible Compaction Metals is located in Oakdale, Pa.
