Allegheny Technologies Inc. (ATI) and Ladish Co., Inc. have entered into a definitive merger agreement whereby ATI will acquire Ladish for an approximately $778 million. The transaction is expected to be completed in early 2011. According to ATI, the company’s unique product portfolio combined with Ladish’s technologically advanced forging, investment casting and machining capabilities creates a more integrated, stable and sustainable supply chain for the aerospace, defense and industrial markets.
According to Cudahy, Wis.-based Ladish, integrating the company’s manufacturing operations with ATI’s broad product range of specialty metals immediately enhances its ability to serve its existing customer base. Ladish expects sales of approximately $400 million in 2010 and anticipates sales will continue to grow with the aerospace market recovery. Pittsburgh, Pa.-based ATI is one of the largest specialty-metals producers in the world with revenues of $3.8 billion for the 12 months ending Sept. 30, 2010.
Allegheny Technologies to Acquire Ladish
November 18, 2010