Allegheny Technologies Inc., a global specialty-metals producer, and Ladish Co., a producer of advanced metal components for aerospace and general industrial markets, announced a merger agreement whereby ATI will acquire Ladish in a cash and stock deal worth nearly $800 million. The transaction is expected to be completed in early 2011. “ATI's unique industry-leading product portfolio combined with Ladish's technologically advanced forging, investment casting and machining capabilities creates a more integrated, stable and sustainable supply chain for the aerospace, defense and industrial markets,” said L. Patrick Hassey, ATI's chairman and CEO.
According to Cudahy, Wis.-based Ladish, integrating the company’s manufacturing operations with ATI’s broad product range of specialty metals immediately enhances its ability to serve its existing customer base. Ladish expects sales of approximately $400 million in 2010 and anticipates sales will continue to grow with the aerospace market recovery. Pittsburgh, Pa.-based ATI is one of the largest specialty-metals producers in the world with revenues of $3.8 billion for the 12 months ending Sept. 30, 2010.