Allegheny Technologies Incorporated (NYSE: ATI) today announced that it
has extended and expanded its long-term supply agreements (LTA) for mill
products and closed-die forgings with a major jet engine OEM. One new
LTA covers a wide range of Premium-Quality titanium-based alloy and
nickel-based superalloy mill products. The other LTA covers closed-die
forgings, including parts made using advanced iso-thermal and hot-die
forging processes. The agreements begin in 2015 and continue into the
next decade.
“We are pleased to extend and expand these strategic supply agreements,”
said Rich Harshman, Chairman, President and Chief Executive Officer.
“The new agreements enhance and solidify our long-term strategic
relationship and recognize our integrated capabilities from raw
materials (titanium sponge) through mill products to machined forgings
for the most innovative next-generation jet engines, as well as for
legacy engines.
“Through the expanded and extended agreements announced today, as well
as our existing agreements for differentiated alloys, ATI has secured a
substantial position on next-generation and legacy single-aisle jet
engine programs. We believe these agreements enhance our position as a
leading integrated supplier of specialty materials mill products. In
addition, the forged parts agreement significantly increases ATI’s
content and growth trajectory for our forgings on the leading
single-aisle and business jet engine programs.
“These new agreements coupled with existing agreements demonstrate ATI’s
ability to meet the jet engine market’s demand for innovative products
through our recent investments in differentiated new alloys and our
enabling manufacturing capabilities for mill products and closed-die
forgings.”
ATI previously announced long-term supply agreements for two innovative
and differentiated nickel-based alloys, Rene 65 alloy and ATI 718®Plus
alloy.
This news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are based on management's current expectations and include
known and unknown risks, uncertainties and other factors, many of which
we are unable to predict or control, that may cause our actual results,
performance or achievements to materially differ from those expressed or
implied in the forward-looking statements. Additional information
concerning factors that could cause actual results to differ materially
from those projected in the forward-looking statements is contained in
our filings with the Securities and Exchange Commission. We assume no
duty to update our forward-looking statements.
Building the World’s Best Specialty Materials Company™
Allegheny Technologies Incorporated is one of the largest and most
diversified specialty materials and components producers in the world
with revenues of approximately $4.0 billion for the twelve months ending
June 30, 2014. ATI has approximately 9,600 full-time employees
world-wide who use innovative technologies to offer global markets a
wide range of specialty materials solutions. Our major markets are
aerospace and defense, oil and gas/chemical process industry, electrical
energy, medical, automotive, food equipment and appliance, and
construction and mining. The ATI website is www.ATImetals.com.
Copyright Business Wire 2014