Sharpens focus on strategic aerospace and defense markets, streamlines operations
DALLAS, Nov. 6, 2024 /PRNewswire/ -- ATI Inc. (NYSE: ATI) announced it completed the sale of its precision rolled strip operations in New Bedford, Massachusetts and Remscheid, Germany to Ulbrich Stainless Steels and Special Metals, Inc. (Ulbrich).
"With this divestiture, ATI sharpens its focus on providing our aerospace and defense customers with the titanium, nickel, and alloyed products that are rolled, melted and/or finished throughout Specialty Rolled Products facilities," said Kimberly A. Fields, President and CEO. "Our ongoing evaluation to align our asset portfolio with our strategic focus on aerospace and defense uncovered this opportunity to further streamline operations."
"We are thrilled to welcome the New Bedford, Massachusetts, and Remscheid, Germany precision rolled strip operations to the Ulbrich family," said Chris Ulbrich, CEO and Chairman of Ulbrich's board. "These operations specialize in quality products in niche markets, like the thin gauges and small coils that make up the precision rolled strip business, ideally suited for Ulbrich's strategy and dedicated, global sales force. This acquisition is a transformative step in our journey as we continue to innovate and expand our offerings.
"We look forward to having employees at both operations join the Ulbrich Steel team as we seek to further enhance our array of high-quality product offerings," said Ulbrich.
ATI: Proven to Perform.
ATI (NYSE: ATI) is a global producer of high performance materials and solutions for the global aerospace and defense markets, and critical applications in electronics, medical and specialty energy. We're solving the world's most difficult challenges through materials science. We partner with our customers to deliver extraordinary materials that enable their greatest achievements: their products fly higher and faster, burn hotter, dive deeper, stand stronger and last longer. Our proprietary process technologies, unique customer partnerships and commitment to innovation deliver materials and solutions for today and the evermore challenging environments of tomorrow. We are proven to perform anywhere. Learn more at ATImaterials.com.
SOURCE ATI
