Allegheny Technologies Incorporated (NYSE: ATI) today announced that it has been selected to supply the nickel-based alloy product for a large oil pipeline repair project. The project’s estimated revenue value to the ATI Flat Rolled Products segment is $30 million. Shipments are expected to begin in the first quarter 2018.
“This oil pipeline repair project required an immediate replacement. The customer selected our innovative solution that is enabled by the capabilities of our Hot-Rolling and Processing Facility (HRPF), which features the industry’s shortest production cycle time for nickel-based alloy flat-rolled products,” said Bob Wetherbee, Executive Vice President, ATI Flat Rolled Products Group.
“In addition, we offered a highly competitive solution for our customer through the use of our differentiated continuous coil, which replaces discrete plate in this application. This differentiated product is made possible by the unparalleled reduction power and gauge control of the HRPF.
“This innovative solution results from ATI’s leading technologies, broad manufacturing capabilities, and operating reliability. We see numerous opportunities for ATI’s highly engineered and differentiated specialty material solutions to grow our business in the oil & gas and chemical & hydrocarbon processing markets.”
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.
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ATI is a global manufacturer of technically advanced specialty materials and complex components. With revenue of $3.4 billion for the twelve month period ending September 30, 2017, our largest market is aerospace & defense, particularly jet engines. We also have a strong presence in the oil & gas, electrical energy, medical, automotive, and other industrial markets. ATI is a market leader in manufacturing differentiated specialty alloys and forgings that require our unique manufacturing and precision machining capabilities and our innovative new product development competence. ATI produces nickel-based alloys and superalloys, titanium alloys, specialty alloys, stainless steels, and zirconium and other related alloys in many mill product forms. We also are a leader in producing nickel-based alloy and titanium-based alloy powders for use in next-generation jet engine forgings and 3D-printed products. ATIMetals.com
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