Dallas-based specialty materials company 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.
“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,” President and CEO Kimberley Fields said in a statement. “Our ongoing evaluation to align our asset portfolio with our strategic focus on aerospace and defense uncovered this opportunity to further streamline operations.”
Terms of the deal weren’t disclosed. Fields was appointed to the top post at ATI in February after serving as the company’s COO and president.
Chris Ulbrich, CEO and chairman of New Haven, Connecticut-based Ulbrich’s board, said the sale aligns well with its business operations.
“We’re thrilled to welcome the New Bedford, Massachusetts, and Remscheid, Germany, precision rolled strip operations to the Ulbrich family,” Ulbrich said in a statement. “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.”
Ulbrich called the acquisition “a transformative step in our journey” as the company continues to innovate and expand its offerings.
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.
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