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Industrial Machinery & Equipment M&A image Industrial Machinery & Equipment M&A » By The Online Investor Staff, updated Sun., Apr. 11, 9:16 AM Recent mergers and acquisitions in the Industrial Machinery & Equipment M&A category.

Slide #87. Kennametal ATI's Tungsten Materials Business

Acquirer: Kennametal (KMT)
Acquiree: ATI's Tungsten Materials Business (ATI)
Details: Kennametal Inc. (NYSE: KMT) announced today that it has signed a definitive agreement to acquire the Tungsten Materials Business of Allegheny Technologies Incorporated (NYSE:ATI) for $605 million. ATI's Tungsten Materials Business, with approximately $340 million in annual sales, is a leading producer of tungsten metallurgical powders, as well as tooling technologies and components. The business has approximately 1,175 employees across 14 operating facilities globally and consists of two market-leading divisions: ATI Firth Sterling and ATI Stellram. The transaction has been approved by both companies' boards of directors and is expected to close before the end of the calendar year, subject to customary regulatory approvals and closing conditions.

Kennametal manufactures tungsten carbide metal cutting tooling. Co.'s standard and custom product offering spans metal cutting and wear applications including turning, milling, hole making, tooling systems and services, as well as wear components and metallurgical powders. End users of Co.'s metal cutting products include manufacturers engaged in a range of industries including: the manufacturers of transportation vehicles and components, machine tools and light and heavy machinery; airframe and aerospace components; and energy-related components for the oil and gas industry, as well as power generation. Co.'s operating segments are: Industrial, Widia and Infrastructure.

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Kennametal manufactures tungsten carbide metal cutting tooling. Co.'s standard and custom product offering spans metal cutting and wear applications including turning, milling, hole making, tooling systems and services, as well as wear components and metallurgical powders. End users of Co.'s metal cutting products include manufacturers engaged in a range of industries including: the manufacturers of transportation vehicles and components, machine tools and light and heavy machinery; airframe and aerospace components; and energy-related components for the oil and gas industry, as well as power generation. Co.'s operating segments are: Industrial, Widia and Infrastructure.

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Company Name: 
Kennametal Inc.
Website: 
www.kennametal.com
Sector: 
Industrial Machinery & Equipment
Number of ETFs Holding KMT: 
46
Total Market Value Held by ETFs: 
$605.39M
Total Market Capitalization: 
$3.41B
% of Market Cap. Held by ETFs: 
17.74%
Company Name: 
Allegheny Technologies, Inc
Website: 
www.atimetals.com
Sector: 
Non-Precious Metals & Non-Metallic Mining
Number of ETFs Holding ATI: 
51
Total Market Value Held by ETFs: 
$732.51M
Total Market Capitalization: 
$2.84B
% of Market Cap. Held by ETFs: 
25.78%
 

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