Kennametal to Acquire ATI’s Tungsten Materials Business
Kennametal Inc. signed a definitive agreement to acquire the Tungsten Materials Business of Allegheny Technologies Inc. (ATI) for $605 million. ATI’s Tungsten Materials Business is a leading producer of tungsten metallurgical powders as well as tooling technologies and components. It has approximately 1,175 employees across 14 operating facilities worldwide and consists of two divisions, ATI Firth Sterling and ATI Stellram. Kennametal expects to capitalize on the material technology capabilities, engineered components and tooling products of ATI’s Tungsten Materials Business to expand its presence in the aerospace and energy markets.