Allegheny Technologies Incorporated : Allegheny Technologies and Boeing Extend Long-Term Titanium Products Supply Agreement
10/05/2011| 05:05pm US/Eastern
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Allegheny Technologies Incorporated (NYSE: ATI) today announced that it
has extended the term of its long-term titanium products supply
agreement with The Boeing Company (NYSE: BA) through December 31, 2018.
The extension agreement covers value-added titanium mill products and
provides opportunity for greater use of ATI's highly engineered titanium
cast and forged products.
"We are pleased to extend our titanium products supply agreement with
Boeing," said Rich Harshman, Chairman, President and Chief Executive
Officer. "The extension agreement solidifies our key-supplier position
at The Boeing Company and recognizes today's supply chain requirement to
provide more value-added titanium products. ATI's strategic investments
and acquisitions over the past several years provide the capacity and
capability to produce titanium products from raw material (titanium
sponge) to value-added mill products, as well as highly engineered and
technically complex forgings and castings. ATI is well positioned to
benefit from the expected unprecedented growth in Boeing's build rates
during the years of this agreement."
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 Metals Company®
Allegheny
Technologies Incorporated is one of the largest and most diversified
specialty metals producers in the world with revenues of approximately
$4.7 billion for the last twelve months. ATI has approximately 11,300
full-time employees world-wide who use innovative technologies to offer
global markets a wide range of specialty metals solutions. Our major
markets are aerospace and defense, oil and gas/chemical process
industry, electrical energy, medical, automotive, food equipment and
appliance, machine and cutting tools, and construction and mining. Our
products include titanium and titanium alloys, nickel-based alloys and
superalloys, grain-oriented electrical steel, stainless and specialty
steels, zirconium, hafnium, niobium, tungsten materials, forgings,
castings, and fabrication and machining capabilities. The ATI website is www.ATImetals.com.
Allegheny Technologies Incorporated
Dan L. Greenfield, 412-394-3004
© Business Wire 2011
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