NEW YORK Allegheny Technologies Inc. (ATI) has acquired alloy component manufacturer Dynamic Flowform Corp. for an undisclosed sum, the specialty steel producer said Feb. 10.
Billerica, Mass.-based Dynamic Flowform produces "thin-walled components in net or near-net shapes across multiple alloy systems, including nickel-based alloys and superalloys, titanium and titanium alloys, zirconium alloys, and specialty and stainless alloys," ATI said in a statement.
Dynamic Flowform makes airframe and jet engine components for the aerospace and defense industry, and drilling and completion tools from hollows for the oil and gas industry.
The acquisition is "consistent with our strategy to create value by expanding our capabilities to produce specialty materials parts and components," ATI chairman, president and chief executive officer Richard J. Harshman said in a statement.
Pittsburgh-based ATI has "identified significant growth opportunities for Dynamic Flowforms products, especially in the aerospace and oil and gas markets," he said. "These opportunities are expected to benefit from ATIs existing global and marketing sales capacities, and ATIs supply chain experience and relationships with (original equipment manufacturers)."