Flowform Products operates out of Billerica, Mass., USA, and had been part of ATI’s Forged High Performance Materials & Components segment. It will now be known as American Flowform & Machining LLC.
 
Consolidated Boring is funded by a group of private investors who support medium-sized manufacturing enterprises. Proceeds of the sale will be used to strengthen ATI's balance sheet.
 
"We concluded that while ATI Flowform is a strong performer with a great team serving the defense market, it operates in a segment with competitive dynamics that do not leverage ATI's strengths and materials," said Kim Fields, ATI’s executive vice president of High Performance Materials & Components and Advanced Alloys & Solutions business segments.
 
"We believe the operation in Billerica will have the opportunity to grow and thrive under Consolidated Boring's ownership and wish them great success in their next chapter."