Allegheny Technologies Incorporated has acquired Addaero Manufacturing (Addaero), a New-Britain based specialist in metal alloy-based additive manufacturing for the aerospace and defense industries.
ATI is a manufacturer of technically advanced specialty materials and complex components. As for Addaero Manufacturing, it is a provider of 3D printing solutions specialized in Aerospace & Defense.
This acquisition will enable ATI to develop its technical expertise to manufacture aerospace components using 3D printing technologies. Indeed, Addaero is recognized for its metallic powder expertise and will further develop its offering by providing solutions from ranging from the design of parts for additive manufacturing to the production of ready-to-install components.
“The acquisition of Addaero is another building block in our strategy to enhance ATI’s full specialty materials capabilities to provide end customers with finished products,” 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.
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