Haynes International

Haynes International, Inc.
Type	Public company
Traded as	NASDAQ: HAYN; S&P 600 Component
Industry	Metal
Founded	1912
Founder	Elwood Haynes
Headquarters	Kokomo, Indiana
Key people	Mark Comerford, President & CEO
Products	Corrosion-Resistant Alloys; High-Temperature Alloys
Production output	18.0 million pounds of metal
Revenue	US$406 million (FY 2016)
Operating income	US$4 million (FY 2016)
Net income	US$5 million (FY 2016)
Total assets	US$638 million (FY 2016)
Total equity	US$341 million (FY 2016)
Number of employees	1,123 (September 30, 2016)
Website	www.haynesintl.com

Haynes International, Inc., headquartered in Kokomo, Indiana, is one of the world’s largest producers of high‑performance nickel‑ and cobalt‑based alloys in flat product form such as sheet, coil and plate forms;^[2] it also manufactures alloys in seamless and welded tubulars, and in slab, bar, billet and wire forms.^[2] The company specializes in corrosion-resistant and high-temperature alloys for the aerospace, chemical processing and industrial gas turbine industries.^[2]

History

The company was founded by Elwood Haynes in 1912 in Kokomo, Indiana, as Haynes Stellite Works.^[2] Haynes had recently received a patent for a metal he created, which he named Stellite.^[3]

In 1920, the company was purchased by Union Carbide.^[3]

In 1922, the company invented its first alloy under the Hastelloy brand, derived from the first letters of the words Haynes Stellite Alloy.^[3]

In 1927, Charles Lindberg's aircraft, the Spirit of St. Louis, which included hard-surfaced engine valves manufactured by Haynes, crossed the Atlantic Ocean.^[3]

In 1970, Cabot Corporation purchased the company.^[3]

In 1989, the investment banking firm of Morgan, Lewis, Githens, and Ahn purchased the company.^[3]

In 1997, the Blackstone Group purchased the company.^[3] The debt incurred ultimately forced Haynes into bankruptcy in March 2004, from which it emerged 5 months later in August 2004.^[2]

In 1999, the company opened an office in Singapore, its first sales office in Asia.^[3]

In 2004, the company acquired Branford Wire & Manufacturing of Mountain Home, North Carolina.^[3]^[4]

In March 2007, Haynes completed a public equity offering.^[5]

Current operations

In addition to Kokomo, Haynes has manufacturing facilities in Arcadia, Louisiana, and Mountain Home, North Carolina. The Kokomo facility specializes in flat products, the Arcadia facility in tubular products, and the Mountain Home facility in wire products.^[2]

The space shuttle’s engines have a total of 47 parts made from Haynes 188 alloy and 7 from Haynes' Hastelloy B alloy. Hastelloy C-22 alloy is used for the fuel line bellows that assist in achieving takeoff.^[3]

The company's revenues in fiscal year 2016 were derived from the following industries:^[2]

Industry	% of 2016 total sales
Aerospace	48.6%
Chemical processing	17.8%
Industrial gas turbine	16.8%
Other	16.8%

Hastelloy products

The company produces 12 corrosion-resistant alloys that it markets under the Hastelloy brand.^[6] These alloys are based on nickel and can survive in high-temperature, high-stress situations such as chemical reactors.^[6]

Composition of various hastelloy alloys (percent)
Alloy	Co	Cr	Mo	W	Fe	Si	Mn	C	Ni	Others
B-3	3*	1.5	28.5	3*	1.5	0.1*	3*	0.01*	65 min.	Al-0.5, Ti-0.2
C-4	2*	16	16	–	3*	0.08*	1*	0.01*	Balance	Ti-0.7*
C-2000	2*	23	16	–	3*	0.08*	–	0.01*	Balance	Cu-1.6
C-22	2.5*	22	13	3	3	0.08*	0.5*	0.01*	Balance	V-0.35*
C-276	2.5*	16	16	4	5	0.08*	1*	0.01*	Balance	V-0.35*
G-30	2*	30	5.5	2.5	15	1*	1.5*	0.03*	Balance	Nb-0.8, Cu-2
N	0.2*	7	16	0.5*	5*	1*	0.8*	0.08*	Balance	Al+Ti-0.5, Cu-0.35

^*Maximum

^ Haynes International: Directors and Officers
^ ^a ^b ^c ^d ^e ^f ^g ^h ⁱ ^j ^k ^l ^m ⁿ ^o Haynes International, Inc. 2016 Form 10-K Annual Report
^ ^a ^b ^c ^d ^e ^f ^g ^h ⁱ ^j Haynes International: Our Milestones
^ "Haynes Announces Acquisition of Branford Wire & Manufacturing" (Press release). Business Wire. November 8, 2004.
^ "Haynes prices $136.5 million IPO at $65 a share". Reuters. March 19, 2007.
^ ^a ^b Haynes International: Alloy Portfolio

- Business data for Haynes International: Google Finance
- Yahoo! Finance
- Reuters
- SEC filings

[1] Haynes International: Directors and Officers

[10K-2] ^ ^a ^b ^c ^d ^e ^f ^g ^h ⁱ ^j ^k ^l ^m ⁿ ^o Haynes International, Inc. 2016 Form 10-K Annual Report

[milestones-3] ^ ^a ^b ^c ^d ^e ^f ^g ^h ⁱ ^j Haynes International: Our Milestones

[4] "Haynes Announces Acquisition of Branford Wire & Manufacturing" (Press release). Business Wire. November 8, 2004.

[5] "Haynes prices $136.5 million IPO at $65 a share". Reuters. March 19, 2007.

[portfolio-6] Haynes International: Alloy Portfolio

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