ATI to sell tungsten business to Kennametal

Sep 16, 2013 | 05:10 PM | Rey Mashayekhi

Tags  Allegheny Technologies, Kennametal, tungsten, tungsten carbide, cutting tools, Rey Mashayekhi

NEW YORK — Allegheny Technologies Inc. (ATI) has agreed to sell its tungsten materials business to Kennametal Inc. for $605 million, the companies said Sept. 16. The deal is expected to close by year-end.

Pittsburgh-based ATI said the sale of ATI Tungsten Materials, part of its Engineered Materials segment, "strengthens (the company’s) focus on ATI’s core strategic businesses," namely its High Performance Metals and Flat-Rolled Products segments.....

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