Posted in | News | Ferrous Alloys and Metals | Business | Iron and Steel

Allegheny Updates J&L Specialty Steel Asset Purchase Status

Apr 17 2004

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Allegheny Technologies Incorporated announced today that the lenders under its senior secured domestic revolving credit facility have consented to the acquisition by a wholly owned subsidiary of ATI Allegheny Ludlum of certain assets of J&L Specialty Steel. The consent is set forth in an amendment to the credit facility, which will become effective upon the closing of the purchase of the J&L assets. The consent of the lending group is one of the conditions to closing under the previously announced Asset Purchase Agreement dated February 16, 2004. The transaction, which is targeted for closing on May 3, 2004, remains subject to other conditions.

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