Significant new and increased share positions solidify ATI as aero industry leader
PARIS, June 19, 2023 /PRNewswire/ -- ATI Inc. (NYSE: ATI) announced it has secured an estimated $1.2 billion in new sales commitments from leading aerospace and defense companies. The collective commitments cover nickel and titanium, materials critical to premium manufacturers as they ramp production to meet increasing demand.
Representing an average of $200 million per year in estimated revenue between 2024 and 2029, the commitments encompass materials for commercial engine and airframe applications as well as ground-vehicle armor. The majority of this revenue is incremental to ATI's previously stated 2025 targets. The commitments will be served through already announced capital and capacity expansions.
"During this time of tight supply for critical materials, ATI is partnering with customers to assure secured supply," said Kimberly A. Fields, president and chief operating officer. "Reliability is crucial. ATI's increased capacity is supporting the industry and helping to stabilize the supply chain.
"These commitments provide ATI with new contracted share positions and a path for future growth," said Fields. "We've solidified our position through the decade and beyond as our customers' needs increase. ATI is poised for growth as demand soars."
At the 54th edition of the Paris Air Show, ATI is meeting with customers and industry leaders to further its partnerships with premier aerospace manufacturers. "It's exciting to work with our customers on their greatest challenges, leveraging ATI's advanced technologies and extraordinary manufacturing capabilities to perform in the most extreme conditions," said Fields.
ATI: Proven to Perform.
ATI (NYSE: ATI) is a global producer of high-performance materials and solutions for the global aerospace and defense markets, and critical applications in electronics, medical and specialty energy. We're solving the world's most difficult challenges through materials science. We partner with our customers to deliver extraordinary materials that enable their greatest achievements: their products fly higher and faster, burn hotter, dive deeper, stand stronger and last longer. Our proprietary process technologies, unique customer partnerships and commitment to innovation deliver materials and solutions for today and the evermore challenging environments of tomorrow. We are proven to perform anywhere. Learn more at ATImaterials.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/ati-secures-estimated-1-2-billion-in-aerospace-and-defense-sales-commitments-301853750.html
SOURCE ATI
