Largest Project Participation in ATI’s History
PITTSBURGH – Allegheny Technologies Incorporated (NYSE:ATI) said today that it has received an additional order for its nickel-based alloy plate to be used in a large oil gas pipeline project. ATI previously announced that it had booked initial orders for this project. Shipments are scheduled to begin in late fourth quarter 2014 and continue through the first half of 2015.
“Total expected revenue of approximately $145 million from these orders represents the largest participation in a project in ATI’s history,” said Rich Harshman, Chairman, President and Chief Executive Officer. “For perspective, expected revenue from these orders is greater than 25% of ATI’s sales to the Oil Gas/Chemical Process Industry for the first nine months of 2014. We received a large share of this project due to the quality of our nickel-based alloy plate that is enabled by ATI’s unique supply chain, including our Flat Rolled Products segment specialty alloy plate facility.”
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$4.1 billion for the twelve months ended September 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.
Source: Allegheny Technologies Incorporated
Allegheny Technologies Incorporated
Dan L. Greenfield, 412-394-3004