Released on May 9, 2011

Allegheny Technologies Inc. (ATI), Pittsburgh, announced it has completed its acquisition of Ladish Co. Inc., Cudahy, Wis., owner of investment casting industry leader Pacific Cast Technologies (PCT), Albany, Ore.

The two companies announced they planned to merge in early May and completed the deal several days later. Under the terms of the agreement, each outstanding share of Ladish common stock has been converted into the right to receive $24 in cash and 0.4556 of a share of ATI common stock.

“ATI Ladish is now an operating company of our High Performance Metals segment,” said Richard Harshman, chairman, president and chief executive officer of ATI.

PCT (now ATI Pacific Cast Technologies) supplies commercial, military and aerospace OEMs with airframe, launch vehicle and turbine engine structural components. The facility specializes in investment cast titanium parts. ATI also operates a ferrous metalcasting facility, ATI Casting Service, LaPorte, Ind.

“ATI Ladish adds to our capability to produce highly engineered and technically complex parts,” Harshman said. “We offer customers, particularly in the aerospace market, an integrated, stable, and sustainable supply chain, which now includes advanced forging, casting, and machining assets for titanium alloys, nickel-based superalloys and specialty alloys.”

ATI provides specialty metals solutions worldwide and employs approximately 11,000 full-time workers. ATI and Ladish together reported revenues of approximately $4.8 billion over the last 12 months.