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.
Allegheny Technologies to Acquire Crucible Assets
September 22, 2009