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Allegheny Technologies Inc Announces Sale Of Tungsten Materials Business To Kennametal Inc


Monday, 16 Sep 2013 07:30am EDT 

Allegheny Technologies Inc announced that it has reached an agreement to sell its tungsten materials business to Kennametal Inc. for $605 million. The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to be completed during the fourth quarter 2013. As a result of this agreement, ATI will report the financial results of the tungsten materials business in discontinued operations pending completion of the transaction. The tungsten materials business, called ATI Tungsten Materials, is part of ATI`s Engineered Products segment. The tungsten materials business, called ATI Tungsten Materials, is part of ATI`s Engineered Products segment. 

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