Industrial Machinery & Equipment M&A » By The Online Investor Staff, updated Fri., Jun. 9, 7:40 AM
Recent mergers and acquisitions in the Industrial Machinery & Equipment M&A category.
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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 is a manufacturer of tungsten carbide metal cutting tooling. Co.'s capability includes the development and application of tungsten carbides, ceramics, super-hard materials and solutions used in metal cutting and wear applications. Co. operates in two segments: Metal Cutting, which develops and manufactures tooling and metal cutting products and services and provides an assortment of standard and custom metal cutting solutions to end markets; and Infrastructure, which produces engineered tungsten carbide and ceramic components, earth-cutting tools, and metallurgical powders, primarily for the energy, earthworks and general engineering end markets.
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Kennametal is a manufacturer of tungsten carbide metal cutting tooling. Co.'s capability includes the development and application of tungsten carbides, ceramics, super-hard materials and solutions used in metal cutting and wear applications. Co. operates in two segments: Metal Cutting, which develops and manufactures tooling and metal cutting products and services and provides an assortment of standard and custom metal cutting solutions to end markets; and Infrastructure, which produces engineered tungsten carbide and ceramic components, earth-cutting tools, and metallurgical powders, primarily for the energy, earthworks and general engineering end markets.
KMT SEC Filing Email Alerts Service
Open the ATI Page at The Online Investor »
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