ATI announces sale of precision rolled strip operations to Ulbrich

Rhea-AI Summary

ATI Inc. has completed the sale of its precision rolled strip operations in New Bedford, Massachusetts and Remscheid, Germany to Ulbrich Stainless Steels and Special Metals. The divestiture aligns with ATI's strategic focus on aerospace and defense markets, specifically in titanium, nickel, and alloyed products. The sold operations specialize in thin gauges and small coils for precision rolled strip business. Ulbrich views this acquisition as transformative for their global strategy and will integrate employees from both facilities into their team.

Positive

• Strategic alignment with core aerospace and defense markets
• Streamlining of operations through divestiture of non-core assets

Negative

• Reduction in operational diversity and market presence
• Loss of revenue streams from precision rolled strip operations

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.

 

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SOURCE ATI

FAQ

What operations did ATI (NYSE: ATI) sell to Ulbrich?

ATI sold its precision rolled strip operations located in New Bedford, Massachusetts and Remscheid, Germany to Ulbrich Stainless Steels and Special Metals.

Why did ATI (NYSE: ATI) sell its precision rolled strip operations?

ATI sold these operations to sharpen its strategic focus on aerospace and defense markets and streamline operations, specifically concentrating on titanium, nickel, and alloyed products.

What products will ATI (NYSE: ATI) focus on after the sale?

ATI will focus on providing titanium, nickel, and alloyed products that are rolled, melted and/or finished throughout Specialty Rolled Products facilities for aerospace and defense customers.