Allegheny Technologies Inc., Pittsburgh, announced it has extended its supply agreement with the Boeing Co., Chicago, a deal which is expected to provide an opportunity for greater use of ATI's cast titanium products.
The long-term contract will extend through Dec. 31, 2018. The agreement is focused on value-added titanium mill products, but ATI said opportunities also would emerge for castings and forgings.
"The extension agreement^recognizes today's supply chain requirement to provide more value-added titanium products," said Rich Harshman, ATI's chairman, president and chief executive officer. "ATI's strategic investments and acquisitions over the past several years provide the capacity and capability to produce titanium products from raw material 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."
ATI acquired Ladish Co. Inc., Cudahy, Wis., owner of investment casting industry leader Pacific Cast Technologies (PCT), Albany, Ore., in May. PCT (now ATI Pacific Cast Technologies) supplies commercial, military and aerospace OEMs with airframe, launch vehicle and turbine engine structural components. The facility specializes in investment cast titanium parts. ATI also operates a ferrous metalcasting facility, ATI Casting Service, LaPorte, Ind., and another metalcasting plant in Albany, Ore.
ATI reported revenues of approximately $4.7 billion for the last twelve months. The specialty metals provider has approximately 11,300 full-time employees worldwide and primarily serves the aerospace and defense, oil and gas/chemical process, electrical energy, medical, automotive, food equipment and appliance, machine and cutting tools, and construction and mining markets.
