ATI Receives Additional Orders for Nickel-based Alloy Plate For a Large Oil & Gas Pipeline Project
November 24 2014 - 9:07AM
Business Wire
Largest Project Participation in ATI’s
History
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.”
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 $4.1 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.
Allegheny Technologies IncorporatedDan L. Greenfield,
412-394-3004
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