Pittsburgh, Pennsylvania-based specialty steel manufacturer Allegheny Technologies Incorporated (ATI) announced Monday that it has completed the acquisition of Ladish, Co.-a manufacturer of forgings, castings and machined components for jet engines and aerospace structures.
Under the terms of the agreement and plan of merger, each outstanding share of Ladish common stock has been converted into the right to receive US$24.00 in case and 0.4556 of share of ATI common stock.
"We are pleased to have completed our acquisition of Ladish and welcome the highly experienced group of Ladish employees to ATI," said Richard J. Harshman, Chairman, President and Chief Executive Officer of ATI." ATI Ladish is now an operating company of our High Performance Metals segment, which also includes ATI Allvac and ATI Wah Chang.