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Allegheny International said Friday it 'reluctantly' called off the...

PITTSBURGH -- Allegheny International said Friday it 'reluctantly' called off the sale of its Special Metals unit to Nippon Steel Corp. because of objections from the Defense Department.

Allegheny International said the department 'voiced concern about access by any foreign-owned company to Special Metals' technology ... which has significant potential for use in aircraft engines of either commercial or military nature.'

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The company said those objections make the transaction 'impractical,' although they present no legal impediment.

Allegheny International, a Pittsburgh-based manufacturer, and Nippon Steel, the world's largest steelmaker, had announced the deal in late April, expecting to conclude it by June 30. Terms of the agreement were not disclosed.

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