Allegheny Technologies (ATI) Completes Acquisition of Crucible Compaction for $40.95M
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Allegheny Technologies Incorporated (NYSE: ATI) announced that it has completed the purchase of the assets of Crucible Compaction Metals and Crucible Research for $40.95 million. The combined resources of Crucible Compaction Metals and Crucible Research constitute one of the world's most technically advanced producers of nickel-based superalloy powder metals used in the aerospace and defense, oil and gas, electrical energy, and medical markets. ATI also announced that the business has been named ATI Powder Metals.
"Expanding our product breadth into technically advanced powder metals has been an ATI strategy for some time. This important acquisition is an excellent entry point," said L. Patrick Hassey, Chairman, President and Chief Executive Officer of Allegheny Technologies. "ATI Powder Metals is a supplier of nickel-based superalloy powder products for use in jet engines and other critical applications. Advanced powder metal engineered products are preferred for certain near-net shape parts that require complex alloy chemistries.
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