ATI to Expand Nickel-Based Superalloy Powder Capabilities
June 17 2015 - 8:00AM
Business Wire
Allegheny Technologies Incorporated (NYSE: ATI) announced today
that it is expanding its nickel-based superalloy powder
capabilities to satisfy strong demand from the aerospace jet engine
market and growing demand from the additive manufacturing industry,
particularly for 3D printed parts used in the aerospace, medical,
electrical energy, and oil and gas markets. The self-funded
expansion, which is projected to cost approximately $70 million and
take two years to complete, will be located at the ATI Specialty
Materials business unit’s operations near Monroe, NC.
“This strategic growth project will strengthen ATI’s position in
the production of technically demanding superalloy powders used to
produce advanced mill products and forgings, primarily for
next-generation jet engines,” said Rich Harshman, ATI’s Chairman,
President and CEO. “A significant portion of the powders to be
produced from this expansion are needed to meet requirements of
existing long-term agreements with jet engine OEMs that run well
into the next decade. The expansion also better positions ATI to
continue as a leading innovator supplying advanced powders to the
new and rapidly growing additive manufacturing industry.
“This expansion builds on ATI’s existing powder capabilities
located at facilities in Oakdale, PA near Pittsburgh, which are
currently operating near capacity. The expansion is included in our
multi-year capital expenditure target of approximately $200 million
annually.”
Nickel-based superalloy powders provide extreme alloy
compositions and a refined microstructure that offer increased
performance and longer useful lives in high-temperature and highly
corrosive environments. For more information, see www.atimetals.com
then “ATI Products” and “Powder Metals.”
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.
Creating Value Thru Relentless Innovation™
Allegheny Technologies Incorporated is one of the largest and
most diversified specialty materials and components producers in
the world with revenues of approximately $4.4 billion for the
twelve months ended March 31, 2015. 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.
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Allegheny Technologies IncorporatedDan L. Greenfield,
412-394-3004
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