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Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
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Allegheny Technologies Incorporated (NYS: ATI) announced today that it has reached an agreement to sell its tungsten materials business to Kennametal Inc. (NYS: KMT) for $605 million. The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to be completed during the fourth quarter 2013. As a result of this agreement, ATI will report the financial results of the tungsten materials business in discontinued operations pending completion of the transaction.

The tungsten materials business, called ATI Tungsten Materials, is part of ATI's Engineered Products segment. ATI's tungsten materials business has approximately 1,175 employees and produces tungsten powder, tungsten heavy alloys, tungsten carbide materials, and carbide cutting tools. For the year ended December 31, 2012, ATI's tungsten materials business generated total net revenue of $338.6 million, operating profit of $37.2 million, and EBITDA of $45.3 million.

"ATI's growth opportunities are in our High Performance Metals segment businesses, including precision forgings and titanium investment castings, and in our diversified Flat-Rolled Products segment business," said Rich Harshman, ATI Chairman, President and Chief Executive Officer. "The sale of our tungsten materials business to Kennametal, a recognized global leader in tungsten-based wear-resistant products, provides ATI with increased financial flexibility and simplifies capital allocation and deployment.

"This sale strengthens our focus on ATI's core strategic businesses and emphasizes the technical, commercial and operating synergies between our High Performance Metals and Flat-Rolled Products segment businesses.

"We also believe that the acquisition of the tungsten materials business by Kennametal improves the competitive position of this business, resulting in a stronger business for the benefit of customers and employees."

Goldman, Sachs & Co. acted as sole financial advisor to ATI and K&L Gates LLP is ATI's legal counsel in connection with the transaction.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which we are unable to predict or control, that may cause our actual results, performance or achievements to materially differ from those expressed or implied in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in our filings with the Securities and Exchange Commission. We assume no duty to update our forward-looking statements.

Building the World's Best Specialty Materials Company™

Allegheny Technologies Incorporated is one of the largest and most diversified specialty metals producers in the world with revenues of approximately $4.6 billion for the twelve months ending June 30, 2013. ATI has approximately 10,900 full-time employees world-wide who use innovative technologies to offer global markets a wide range of specialty metals solutions. Our major markets are aerospace and defense, oil and gas/chemical process industry, electrical energy, medical, automotive, food equipment and appliance, construction and mining, and machine and cutting tools. Our products include titanium and titanium alloys, nickel-based alloys and superalloys, engineered forgings and castings, zirconium, hafnium, and niobium alloys, grain-oriented electrical steel, and stainless and specialty steels.

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
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Tungsten carbide (WC) is an inorganic chemical compound containing equal parts of tungsten and carbon atoms. In its most basic form, it is a fine gray powder, but it can be pressed and formed into shapes for use in industrial machinery, tools,abrasives, as well as. Tungsten carbide is approximately three times stiffer than steel, and is much denser than steel or titanium. It is comparable with corundum in hardness and can only be polished and finished with abrasives of superior hardness such assilicon carbide, cubic boron nitride.

Chinatungsten Online supply premium grade tungsten carbide rod from stock in unground, center-less ground and polished form. What's more, we also supply Tungsten carbide rod according to drawing supplied by customers. Besides, we can offer you high-quality products at a competitive price. We are very please to try our best work for you better. Look forward to your inquiry!

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten & Molybdenum Information Bank: http://i.chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Molybdenum News & Molybdenum Price: http://news.molybdenum.com.cn

Carbide is the material based on hard refractory metal compound (hard phase or the ceramic phase) , with metal binder (metal phase), the powder metallurgy method for producing a high hardness, high wear-resistant pieces of , also known as cermet material.

WC - Co cemented carbide is combined of phase of WC and Co binder phase: WC - TiC - Co cemented carbide is the composition of the WC phase, WC - TiC solid solution phase and Co binder phase; And the WC phase, WC - TiC phase belong to the same lysosomal hard phase, they contribute to the wear resistance of cemented carbide, Co phase play the role of binder the hard phase together, contribute to the toughness of cemented carbide, cemented carbide in general owns its contradiction, ie, good toughness, abrasion resistance is poor; good wear resistance, toughness is poor.

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten & Molybdenum Information Bank: http://i.chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Molybdenum News & Molybdenum Price: http://news.molybdenum.com.cn