Allegheny Technologies Inc. (ATI) announced a realignment of its business segments to further enhance its position as a leading specialty materials manufacturer and to accelerate sustainable long-term profitable growth. Starting with first-quarter 2020 financial results, ATI will report in two business segments: a streamlined High Performance Materials & Components (HPMC) segment and the new Advanced Alloys & Solutions (AA&S) segment.
Blue Point Capital Partners acquired Mattco Forge Inc., a manufacturer of forged-metal products primarily for the aerospace and defense sectors. Paramount, Calif.-based Mattco offers a wide range of products and customized product configurations in various metal alloys that are critical to high-performance parts. According to Blue Point, Mattco has strategically positioned itself as a key supplier of forged-metal products in the aerospace and defense industries. Blue Point hopes to expand the company's production capabilities, improve its supply-chain management and enhance its business infrastructure.
Platte River Equity announced the sale of its portfolio company PRV Metals LLC to Tinicum L.P., a New York-based private investment firm. Through its two operating subsidiaries, Sierra Alloys (Irwindale, Calif.) and TSI Titanium (Derry, Pa.), PRV Metals manufactures and supplies forged and rolled titanium, stainless steel products and other specialty alloys to the commercial aerospace, defense, medical, energy and industrial sectors. The company specializes in flat and round bar and plate products, and it performs in-house heat treating, hot rolling, forging, conditioning and machining.
Allegheny Technologies Inc. (ATI) agreed to sell two non-core forging facilities to Chicago-based Wynnchurch Capital LLC for $37 million. The transaction will close during the second quarter of 2019. The facilities, located in Portland, Ind., and Lebanon, Ky., are part of ATI’s High Performance Materials & Components (HPMC) segment. They use primarily traditional forging methods to produce carbon-steel forged products for use in the oil and gas, transportation, construction and mining industries. Their capabilities include comprehensive forging processes complemented by in-house design and engineering, product machining and heat-treating services.
In late September, trade representatives from Mexico, Canada and the U.S. reached an agreement to replace NAFTA, the North American Free Trade Agreement, which was negotiated by the Clinton administration.
Residual stresses are inherently introduced to forged products during their deformation. These stresses influence the integrity of load-bearing parts. Their effects depend on their nature (tensile or compressive), location and magnitude.