Premium quality expansion will double operations to serve aerospace and defense
DALLAS, July 19, 2023 /PRNewswire/ -- ATI Inc. (NYSE: ATI) announced its Richland, Washington operations as the location of its previously announced titanium melting expansion through investment in new, state-of-the-art assets. The expansion will increase ATI's production of aerospace and defense-grade titanium by approximately 35% over the 2022 baseline levels, helping to meet strong titanium demand. The expansion is projected to be online by the end of 2024, with product qualifications occurring in 2025.
"We're essentially doubling the capacity of this operation and upgrading its capabilities to deliver the high-quality premium materials our customers value," said Kim Fields, ATI president and chief operating officer. "This new capacity will have extraordinary chemistry control, process flexibility, and enable optimization of input materials," said Fields.
The new capacity will supply aero-engine, airframe, and defense customers, including those served by ATI's recently announced $1.2 billion in long-term commitments.
"Twenty-five years after the Richland facility was first commissioned, it's exciting to expand our presence there," said Board Chair and Chief Executive Officer Bob Wetherbee. "We appreciate the region's strong support and are honored to be the city of Richland's first recipient of the Manufacturing Property Tax Exemption."
In keeping with ATI's commitment to sustainable operations, the facility will be powered primarily by hydroelectricity. The investment is included in the company's existing capital expenditure guidance.
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.
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