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ATI Completes Sale of Titanium Investment Castings Business-The 21st China(Guangzhou) Die-casting, Foundry & Industry Furnace Exhibition
8/16/2019 压铸展-铸造展- Die-casting expo-foundry expo |
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Allegheny Technologies Incorporated announced it has completed the sale of its Cast Products business unit to Consolidated Precision Products Corp of Cleveland, OH. Robert S Wetherbee, President & CEO, said “We are pleased to finalize the sale of our Cast Products business to CPP and we wish the employees success moving forward.”
This transaction further sharpens ATI’s strategic focus on materials science and advanced process technologies, which offer the company the best combination of growth, profitability and corporate synergies. A post-casting machining facility in Salem, OR remains with ATI to provide services to CPP and others.
The gross cash proceeds will be used to further ATI’s capital deployment priorities, principally focused on improving its balance sheet by reducing corporate debt levels and funding its pension obligations, as well as building its strategic cash reserves over time. ATI’s third quarter 2019 results will include a modest gain from this transaction.
压铸展-铸造展-2020第二十一届广州国际压铸、铸造及工业炉展览会-中国最受关注的压铸铸造展会-巨浪展览
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