Allegheny Technologies Inc. (ATI) said it completed the purchase of the assets of Crucible Compaction Metals and Crucible Research for $40.95 million. ATI also announced that the business has been named ATI Powder Metals.
The company added that the economics of the transaction are attractive and it expects the acquisition to be accretive to earnings beginning in 2010.
Patrick Hassey, chairman, president and chief executive of Allegheny Technologies stated, "ATI Powder Metals combined with ATI's unsurpassed specialty metals technology and manufacturing capabilities provides a platform to develop new nickel-based superalloy and titanium alloy products and expand the application of these technically advanced specialty metal powders."
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