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Article: Allegheny to Buy Crucible - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- September 23, 2009
- Author:
CopyrightCopyright 2009 Zacks Investment Research. (Hide copyright information)
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Allegheny to Buy Crucible - Analyst Blog
Recently, the world’s largest specialty metals producer
Allegheny Technologies Inc.
(
ATI
) bought the assets of Crucible Compaction Metals and Crucible Research for $40.95 million following a bankruptcy court auction. The transaction is expected to close by Oct. 31. The company did not provide further details.
The acquired units belonged to Syracuse, New York-based Crucible Materials Corp. The company, which runs a research center and a plant in Pittsburgh, had filed for Chapter 11 bankruptcy protection in Delaware in May, after being severely hurt by a weak automotive industry.
Earlier this month, Allegheny had also agreed to ...