ATI to divest iron castings business

Oct 14, 2013 | 04:51 PM | Rey Mashayekhi

Tags  Allegheny Technologies, ATI, Richard Harshman, iron castings, fabricated components, Rey Mashayekhi

NEW YORK — Allegheny Technologies Inc. (ATI) is closing its fabricated components business and plans to divest its iron castings operations, the company said Oct. 14.

Pittsburgh-based ATI said the decision came after a "strategic review" of the two businesses, which it categorized as "small operations" with combined revenue of about $10 million through the first six months of 2013. Those earnings were offset by combined pre-tax losses of roughly $9 million in the same period.....

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