The company Allegheny Technologies Incorporated (NYSE: ATI) announced that it has acquired Addaero Manufacturing, a leader in metal alloy-based 3D-Printing for the aerospace and defense industries, located in New Britain, Connecticut.
“This strategic acquisition brings together ATI’s deep knowledge and experience in commercial aerospace and our industry-leading powder metal manufacturing capabilities, including our new aerospace-qualified Bakers Powder Operations, and Addaero’s technical expertise to produce aerospace quality parts using various additive manufacturing technologies,”
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“Addaero’s competencies are a natural extension of ATI’s metallic powder expertise and will expand our capabilities to provide comprehensive customer solutions ranging from the design of parts for additive manufacturing to the production of ready-to-install components. The acquisition of Addaero is another building block in our strategy to enhance ATI’s full specialty materials capabilities to provide end customers with finished products,”
-Rich Harshman, President and Chief Executive Officer at ATI
“We are excited to have Rich Merlino and the entire Addaero team join ATI,”, …, “They bring an extraordinary amount of aerospace and defense industry knowledge and real-world additive manufacturing experience. The complementary nature of our two businesses will allow for a seamless integration; creating a more capable end-to-end metallic powder component supplier to our key customers.”
-John Sims, ATI’s Executive Vice President, High Performance Materials and Components Segment.
“The Addaero team is excited to be a part of ATI. The combination of ATI and Addaero will increase the speed to market of new and innovative additively manufactured powder metal solutions for our aerospace and defense customers and beyond,”
-Rich Merlino, President, Addaero Manufacturing.
ATI expects 2018 free cash flow generation in excess of $150 million, excluding contributions to the ATI Pension Plan.
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ATI is a global manufacturer of technically advanced specialty materials and complex components. With revenue of $3.6 billion for the twelve month period ending March 31, 2018, our largest market is aerospace & defense, particularly jet engines.
We also have a strong presence in the oil & gas, electrical energy, medical, automotive, and other industrial markets. ATI is a market leader in manufacturing differentiated specialty alloys and forgings that require our unique manufacturing and precision machining capabilities and our innovative new product development competence. We are a leader in producing powders for use in next-generation jet engine forgings and 3D-printed aerospace products. ATI has extensive metallic powder development and manufacturing capabilities comprised of; 4 production facilities, including one currently under construction that will produce titanium powders using the EIGA process, a dedicated research and development center and the NextGen Alloys Joint Venture with General Electric to produce melt less titanium alloy powders. (Learn more about alloy powders market for Additive Manufacturing).
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Source: Business Wire Jul 16, 2018, https://www.businesswire.com/news/home/20180716005159/en/ATI-Acquires-Aerospace-Defense-Additive-Manufacturer-Addaero
