Reportedly, Allegheny Technologies Inc. (ATI) forecasted that its net income in the first quarter would be at around USI$10 million with sales of US$1.18 billion, in comparison of net income of US$56.2 million with sales of US$1.35 billion in the same period of a year ago. Rich Harshman, the CEO of ATI said that the company's sales performance was impacted by low selling prices for cold rolled standard sheets, sluggish demand and low prices of grain-oriented electric steel. However, Harshman believes that the market condition will remain favorable for rise in ATI's key markets, including aerospace, electrical energy and medical oil and chemical process industry, over the long term.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64011&division=A6
