UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): |
February 10, 2014 |
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Allegheny Technologies Incorporated |
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(Exact name of registrant as specified in its charter) |
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Delaware |
1-12001 |
25-1792394 |
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(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
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1000 Six PPG Place, Pittsburgh, Pennsylvania |
15222-5479 |
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(Address of principal executive offices) |
(Zip Code) |
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Registrant’s telephone number, including area code |
(412) 394-2800 |
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N/A |
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(Former name or former address, if changed since last report). |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events.
On February 10, 2014, Allegheny Technologies Incorporated announced that it has acquired Dynamic Flowform Corp., a business that uses a precision flowforming process to produce thin-walled components in net or near-net shapes across multiple alloy systems, including nickel-based alloys and superalloys, titanium and titanium alloys, zirconium alloys, and specialty and stainless alloys. A copy of the press release is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
99.1 Press release dated February 10, 2014.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ALLEGHENY TECHNOLOGIES INCORPORATED |
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By: |
/s/ Elliot S. Davis |
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Elliot S. Davis |
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Senior Vice President, General Counsel, |
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Chief Compliance Officer and Corporate Secretary |
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Dated: |
February 10, 2014 |
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Exhibit 99.1
ATI Acquires Dynamic Flowform
PITTSBURGH--(BUSINESS WIRE)--February 10, 2014--Allegheny Technologies Incorporated (NYSE:ATI) announced today that it has acquired Dynamic Flowform Corp. (“Dynamic Flowform”). Located in Billerica, MA, Dynamic Flowform uses a precision flowforming process to produce thin-walled components in net or near-net shapes across multiple alloy systems, including nickel-based alloys and superalloys, titanium and titanium alloys, zirconium alloys, and specialty and stainless alloys. Dynamic Flowform’s major markets are Aerospace and Defense, and Oil and Gas/Chemical Process Industry.
“The acquisition of Dynamic Flowform is consistent with our strategy to create value by expanding our capabilities to produce specialty materials parts and components,” said Rich Harshman, ATI’s Chairman, President and Chief Executive Officer. “Dynamic Flowform is a technology leader in the manufacture of unique parts and components using the alloy systems that are core competencies of ATI. The innovative and entrepreneurial Fonte family established Dynamic Flowform and has successfully operated and grown the business for nearly 40 years. We are pleased and proud to welcome Matt and Nick Fonte to the ATI team.
“This acquisition is expected to be immediately accretive to ATI. We have identified significant growth opportunities for Dynamic Flowform’s products, especially in the Aerospace and Oil and Gas markets. These opportunities are expected to benefit from ATI’s existing global marketing and sales capabilities, and ATI’s supply chain experience and relationships with OEMs.”
Some examples of Dynamic Flowform’s major products include: airframe and jet engine components, and oil and gas drilling and completion tools from hollows.
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 materials and components producers in the world with revenues of approximately $4.0 billion in 2013. ATI has approximately 9,500 full-time employees world-wide who use innovative technologies to offer global markets a wide range of specialty materials solutions. Our major markets are aerospace and defense, oil and gas/chemical process industry, electrical energy, medical, automotive, food equipment and appliance, and construction and mining. The ATI website is www.ATImetals.com.
CONTACT:
Allegheny Technologies Incorporated
Dan L.
Greenfield, 412-394-3004
www.ATImetals.com