Allegheny Technologies Inc., Pittsburgh, Pa., announces that it has acquired Addaero Manufacturing, a metal alloy-based additive manufacturer for the aerospace and defense industries, located in New Britain, Conn.
Designed to bring together ATI’s powder metal manufacturing capabilities, including its Bakers Powder Operations, and Addaero’s technical expertise, the acquisition will expand ATI’s comprehensive customer solutions.
“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,” says Rich Harshman, ATI’s Chairman, President and Chief Executive Officer.
Including this acquisition, ATI expects 2018 free cash flow generation in excess of $150 million, excluding contributions to the ATI Pension Plan. Financial terms of the acquisition were not disclosed.
