Message #9 From:
NewsBot Date: October 16, 2006 04:35:00 AM
ATI News Allegheny Technologies and Boeing Sign Long-Term Titanium Products Supply Agreement
PITTSBURGH--(BUSINESS WIRE)--Allegheny Technologies Incorporated (NYSE: ATI) announced today that it
has signed a long-term agreement with The Boeing Company (NYSE:BA) for
the supply of titanium products for commercial aerospace applications.
The expected total revenue under the agreement at base prices from 2007
through 2015 is approximately $2.5 billion. The aerospace titanium mill
products covered by the agreement include ingot, billet, bar, rectangle,
plate, and sheet.
“We are pleased to be a key contributor to
Boeing’s long-term commercial aerospace growth
plan,” said Patrick Hassey, Chairman,
President and Chief Executive Officer of Allegheny Technologies. “ATI
is investing to grow our titanium sponge, melting, and finishing
capabilities to help meet the robust global demand for titanium
products. Through this long-term agreement ATI becomes a major supplier
to The Boeing Company.
“As a key supplier to the aerospace markets
for nearly 50 years, ATI has consistently invested in technological
innovation and improvement in quality and customer support systems. ATI’s
position as a secure and reliable producer coupled with our strategic
growth initiatives allows us to fully support our aerospace jet engine
customers and provide significant growth for ATI’s
aerospace titanium products to the airframe market.”
Allegheny Technologies previously announced capital investments for
titanium sponge and further expansion of its titanium melt and finishing
capabilities for both long products and flat-rolled products.
Allegheny Technologies has scheduled a conference call with investors to
discuss third quarter 2006 results and market conditions on Wednesday
October 25, 2006 at 1:00 pm. The conference call will be conducted after
the Company’s planned release of third quarter
2006 results. The conference call will be broadcast at www.alleghenytechnologies.com.
To access the broadcast, go to the home page and select “Conference
Call”. In addition, the conference call will
be broadcast through CCBN.com.
This news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These
statements are based on management’s current
expectations and are subject to uncertainties and changes in
circumstances. Actual results may differ materially 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
Allegheny Technologies’ filings with the
Securities and Exchange Commission. We assume no duty to update our
forward-looking statements.
Building the World’s Best Specialty
Metals Company™
Allegheny Technologies Incorporated is one of the largest and most
diversified specialty metals producers in the world with revenues of
$4.0 billion during the most recent four quarters ending June 30, 2006.
ATI has approximately 9,300 full-time employees world-wide who use
innovative technologies to offer growing global markets a wide range of
specialty metals solutions. Our major markets are aerospace and defense,
chemical process industry/oil and gas, electrical energy, medical,
automotive, food equipment and appliance, machine and cutting tools, and
construction and mining. Our products include titanium and titanium
alloys, nickel-based alloys and superalloys, stainless and specialty
steels, zirconium, hafnium, and niobium, tungsten materials,
grain-oriented silicon electrical steel and tool steels, and forgings
and castings. The Allegheny Technologies website is www.alleghenytechnologies.com.
