Acquisition of J&L by ATI Allegheny Ludlum approved

Acquisition of J&L by ATI Allegheny Ludlum approved

According to the recent statement made by Allegheny Technologies Incorporated, United Steel Workers of America (USWA), representing workers at ATI Allegheny Ludlum and J&L Specialty Steel (J&L) approved the new labor agreement. With this agreement, acquisition of assets of J&L Specialty Steel by ATI Allegheny Ludlum is approved. As reported by SteelOrbis, USWA and Allegheny Technologies had previously reached a tentative agreement regarding the labor agreement and the acquisition was expected to be completed on June 1, 2004.