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Article: Allegheny Technologies to Acquire J&L Specialty Steel Assets.
- Article from:
- Business Wire
- Article date:
- February 17, 2004
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Business Editors
PITTSBURGH--(BUSINESS WIRE)--Feb. 17, 2004
Allegheny Technologies Incorporated (NYSE:ATI) announced today that an Asset Purchase Agreement has been signed with Arcelor and J&L Specialty Steel, LLC under which a wholly owned ATI subsidiary will acquire substantially all of the assets of J&L Specialty Steel.
The transaction, which is targeted for closing on May 3, 2004, is conditioned upon completion of due diligence, the successful negotiation of new collective bargaining agreements with the United Steelworkers of America (USWA) at both ATI Allegheny Ludlum and J&L Specialty Steel, approval by ATI's secured lenders, and customary ...