Allegheny Technologies Inc. expects to purchase the assets of Crucible Compaction Metals and Crucible Research for $40.95 million as part of a U.S. Bankruptcy Court proceeding. The company said the transaction is expected to close by Oct. 31. Crucible Compaction Metals and Crucible Research are divisions of Syracuse, N.Y.-based Crucible Materials Corp., which filed for Chapter 11 bankruptcy in May. Allegheny Technologies is one of the largest and most diversified specialty-metals producers in the world.
Crucible Materials Corp. is a producer and distributor of specialty metals and powders with manufacturing facilities in New York and Pennsylvania, a research facility in Pennsylvania and service centers throughout North America. Crucible Compaction Metals is located in Oakdale, Pa., and Crucible Research is based in Pittsburgh, Pa.