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Kennametal buys Allegheny's tungsten business for $605M
I think the company's move out of commodity metals and into higher margin specialty metals makes sense...and, so does the assessment in this article. Improves balance sheet as they shed under-performing assets, while focusing on those with better growth potential.
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Ted
http://seekingalpha.com/article/1697132-allegheny-technologies-solid-sale-price-of-tungsten-reduces-leverage-buys-time?source=email_rt_article_readmore&app=1
I think the company's move out of commodity metals and into higher margin specialty metals makes sense...and, so does the assessment in this article. Improves balance sheet as they shed under-performing assets, while focusing on those with better growth potential.