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4 years ago
Kennametal to buy Allegheny's tungsten materials business for $605 mln
September 16, 2013 / 12:01 PM / 4 years ago

Kennametal to buy Allegheny's tungsten materials business for $605 mln

1 Min Read

Sept 16 (Reuters) - Industrial toolmaker Kennametal Inc said it would buy Allegheny Technologies Inc's tungsten materials business for $605 million to strengthen its materials and cutting tools business.

Kennametal said it expected the acquisition to be neutral for earnings for fiscal 2014 ending June.

Allegheny Technologies' tungsten material business, ATI Tungsten Materials, makes tungsten powder, tungsten heavy alloys, tungsten carbide materials and carbide cutting tools.

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