Special Metals

What Special Metals does

Special Metals Corporation is one of the world's leading producers of superalloy and special alloy long products, manufacturing nickel-based and cobalt-based alloys used in extreme environment applications. The company traces its origins to Henry Wiggin & Company in the 1800s and was assembled in its current form in 1998 through the acquisition of Inco Alloys International. Special Metals operates as a wholly-owned subsidiary of Precision Castparts Corp., which itself was acquired by Berkshire Hathaway in 2016 for approximately $37 billion. The company maintains operations across the United States, United Kingdom, and Australia through ten core divisions including the 130-acre Huntington facility (described as the largest nickel alloy production facility in the world), New Hartford (premium aerospace superalloys), Dunkirk (forging), Wiggin (UK), WASA (Australia), Overall Forge, PCC Revert (recycling), IncoTest (metals testing), and Welding Products.

The company's technology base centers on high-integrity nickel and cobalt alloy production using Vacuum Induction Melting (VIM), Vacuum Arc Remelting (VAR), Electroslag Remelting (ESR), air induction melting, electric arc furnaces, and integrated hot/cold working processes. Its portfolio includes over 100 alloy compositions with more than 80% invented in-house, marketed under proprietary brand families including INCONEL, INCOLOY, NIMONIC, MONEL, UDIMET, NILO, and DURANICKEL. Product forms span ingots, billets, bar, plate, sheet, strip, tubing, wire, and forgings, with notable capital assets including two 70,000 lb electric arc furnaces, 45,000-48,000 lb VIM furnaces, and a 5,000-ton forge press. Capabilities include advanced non-destructive testing (C-scan immersion sonic inspection), pilot-scale custom production from 100g to 500kg via the Technology Processing Center, and toll conversion services for other metals producers.

Special Metals generates revenue primarily through one-time sales of alloy products across multiple end markets: aerospace (engines, turbines, landing gear, structural parts), oil and gas (OCTG, downhole equipment, subsea), power generation (coal, natural gas, nuclear), chemical processing, and general industrial applications. Pricing is commodity-linked with monthly raw material surcharges based on nickel, cobalt, molybdenum, tungsten, and other input prices, supplemented by quote-based pricing for custom alloys and large volume orders. The go-to-market motion is enterprise field sales targeting major OEMs, supported by strategic stock locations in North America, UK, Europe, Singapore, and Australia, with additional revenue from welding consumables (coated electrodes, filler metals, fluxes) and ancillary services (recycling, contract testing, pilot processing, toll conversion). The customer base includes Boeing, Airbus, GE Aerospace, Rolls-Royce, Pratt & Whitney, Safran/SNECMA, MTU Aero Engines, Aramco, and Westinghouse.

Name

Special Metals

Legal name

Special Metals Corporation

Website

https://specialmetals.com

Company type

Private

Founded year

1850

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Special Metals Corporation is a Berkshire Hathaway-owned (via Precision Castparts Corp.) producer of over 100 nickel and cobalt superalloy compositions serving aerospace, oil and gas, power generation, and chemical processing OEMs globally through manufacturing operations in the US, UK, and Australia.

Ownership category

akta.pro rank

Headquarters

HQ city

New Hartford

HQ country

United States

HQ region

North America

Offices13 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Alloy Product Sales: Sale of nickel and cobalt alloy products including ingots, billets, bar, plate, sheet, strip, tubing, wire, and forgings to aerospace, oil & gas, power generation, and industrial customers.
2. Conversion Services: Toll conversion services providing additional mill processing capacity to other metals producers. Customers provide material for processing at Special Metals facilities.
3. Pilot Processing Services: Small volume specialized production and testing through the Technology Processing Center. Serves universities, national laboratories, corporate R&D centers, and small volume commercial needs.
4. Welding Consumables: Manufacturing and sale of nickel welding products including coated electrodes, filler metals, flux-cored wires, and fluxes for joining nickel alloys and dissimilar metals.
5. Alloy Surcharges: Monthly raw material surcharges applied to alloy prices based on fluctuating commodity costs for nickel, cobalt, molybdenum, copper, niobium, chromium, tungsten, and titanium.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Special Metals invents, develops, and produces more than 100 nickel and cobalt alloy compositions marketed under proprietary brands such as INCONEL®, INCOLOY®, NIMONIC®, MONEL®, and UDIMET®, supplied as billet, bar, plate, sheet, strip, tubing, wire, and forgings for aerospace, oil & gas, power generation, and chemical processing customers. The company also manufactures nickel welding consumables, offers toll conversion services, pilot-scale custom alloy production through the Technology Processing Center, and metals testing through IncoTest.

Product overview

Special Metals Corporation is the world's premier inventor, developer and producer of nickel alloy and cobalt alloys, with over 100 alloy compositions. The portfolio includes INCONEL® (nickel-chromium superalloys), INCOLOY® (iron-nickel-chromium alloys), NIMONIC® (aerospace turbine alloys), MONEL® (nickel-copper alloys), UDIMET®/UDIMAR® (cobalt-containing superalloys), NILO® (controlled expansion alloys), and welding consumables. These are offered across multiple product forms including billet, bar, plate, sheet, strip, tubing, wire, and forgings. Manufacturing operations span Huntington (largest nickel alloy facility), New Hartford (aerospace superalloys), Wiggin (UK), WASA (Australia), Overall Forge (forgings), PCC Revert (recycling), and IncoTest (metals testing).

Differentiator

Problem solved

Functional benefit

Products and services

• INCONEL® alloys Nickel-chromium-based superalloys offering excellent corrosion resistance and high-temperature strength for aerospace, chemical processing, and industrial applications.
• INCOLOY® alloys Iron-nickel-chromium alloys designed for high-temperature corrosion resistance in chemical processing, power generation, and pollution control applications.
• NIMONIC® alloys Nickel-chromium and nickel-chromium-cobalt alloys developed for aerospace and industrial gas turbine applications requiring high creep resistance.
• MONEL® alloys Nickel-copper alloys with excellent corrosion resistance in seawater and chemical environments, used in marine engineering and chemical processing.
• UDIMET®/UDIMAR® alloys Cobalt-containing superalloys providing high strength and thermal fatigue resistance for aerospace turbine and industrial applications.
• NILO®/NILOMAG® alloys Nickel-iron alloys with controlled thermal expansion properties used in aerospace, electronics, and precision engineering applications.
• Nickel/DURANICKEL® alloys High-purity nickel and precipitation-hardenable nickel alloys for electronic, aerospace, and industrial applications.
• Welding Products (INCOFLUX, INCO-WELD, NI-ROD) Complete range of nickel alloy welding consumables including coated electrodes, filler metals for MIG and TIG, flux cored wires, and fluxes for submerged arc welding.
• Pilot Processing Center (TPC) Small volume specialized alloy production and testing services for melting and conversion of custom nickel, titanium, cobalt, and iron alloys, operated jointly with TIMET Henderson Technical Laboratory.
• IncoTest® Independent and confidential contract analysis and metals testing programs offering chemical, mechanical, physical, corrosion, NDT, and metallographic testing services.
• PCC Revert Management of nickel- and cobalt-based superalloy and titanium alloy recycling for aerospace, land-based turbine, and chemical industries.
• Conversion Services Toll conversion services providing additional mill processing capacity to other metals producers, offering melting, remelting, forging, hot rolling, and finishing capabilities for nickel-based and other alloys.
• Alloy Surcharge Report Monthly raw material averages and ship-month surcharge information for various nickel and cobalt alloys based on commodity prices for nickel, cobalt, molybdenum, copper, niobium, chromium, tungsten, and titanium.
• INCOLOY® alloy 945X® Age-hardenable nickel-iron-chromium alloy with molybdenum, copper, niobium, titanium, and aluminum additions designed for maximum uptime in extreme oil and gas environments, approved under NACE MR0175 / ISO 15156-3 up to NACE level VII.

Quantifiable outcome

• Over 100 alloy compositions available from a single manufacturer - the industry's longest range of product forms
• +1 more outcomes

Named customers12 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

One partnership is on record.

• TIMET CorporationcoreStrategic or Co-development PartnerLandmark partnership between Special Metals Technology Processing Center (TPC) and TIMET Henderson Technical Laboratory (HTL). Two of the most well-equipped pilot plant facilities in the world combining capabilities for melting and conversion of custom nickel, titanium, cobalt, and iron alloys. Serves universities, national laboratories, corporate R&D centers, and small volume commercial needs in aerospace, power generation, nuclear, chemical, and manufacturing industries.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• ATI Inc. (Allegheny Technologies): Specialty materials manufacturer producing nickel-based superalloys, titanium, and other high-performance materials for aerospace, defense, oil & gas, and energy markets. Direct overlap in jet engine alloys and similar aerospace OEM approvals.
• Haynes International: Direct US-based competitor in nickel- and cobalt-based superalloys, offering the HASTELLOY and HAYNES branded product families for aerospace, chemical processing, and industrial gas turbine applications. Same melting technologies (VIM, ESR) and same aerospace OEM customer base.
• Lincoln Electric Holdings: Direct peer in the welding consumables segment, where Special Metals' Newton, NC Welding Products division competes with coated electrodes, filler metals, flux-cored wires, and fluxes for joining nickel alloys and dissimilar metals.
• VDM Metals: Germany-based nickel alloy producer (part of Acerinox group) offering the VDM and Nickel-branded alloy portfolio. Direct competitor in chemical processing, oil & gas, and aerospace segments with similar VIM/ESR/VAR production.
• ESAB Corporation: Major welding and cutting products manufacturer that competes with Special Metals' Welding Products division in nickel-alloy welding consumables for aerospace, petrochemical, and industrial fabrication applications.
• Carpenter Technology Corporation: Specialty alloy producer with significant nickel and cobalt superalloy portfolio (including Pyrowear, AerMet, and Carpenter-brand alloys) serving aerospace, defense, medical, and energy markets. Direct overlap in high-performance alloy billet, bar, and wire forms.

Broad incumbents

• Sandvik AB: Swedish engineering group with a materials technology division producing specialty alloys, including nickel-based products for aerospace, chemical, and energy markets. Broader portfolio of cutting tools and mining equipment alongside its alloy business.
• Outokumpu Oyj: European stainless steel and specialty alloys producer with overlap in corrosion-resistant materials for chemical processing and oil & gas. Broader portfolio and not a primary nickel superalloy competitor.
• Thyssenkrupp Steel Europe: Large German steelmaker producing a range of specialty and high-performance steels including some nickel-bearing grades. Adjacent rather than direct competitor given its broader carbon and stainless steel focus.

Others

• TIMET (Titanium Metals Corporation): Sister company within Precision Castparts Corp. / Berkshire Hathaway's PCC Energy Group. Primary producer of titanium mill products for aerospace. Not a direct superalloy competitor but operates as a parallel strategic materials business within the same parent.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/special-metals

Compliance18 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Special Metals