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Allegheny Bags Contract – Analyst Blog

Zacks Market Commentaries (September 9th, 2009) Writes:
On Sep 8, Allegheny Technologies Incorporated (ATI), one of the largest and the most diversified specialty metals producers in the world, signed a ten-year agreement with Rolls-Royce plc, the British aircraft engine maker for the supply of nickel-based superalloy disc-quality products for commercial jet engine applications. The agreement covers products sold by ATI Allvac, a subsidiary of Allegheny Technologies, to Rolls- Royce first tier suppliers (forgers).  The Downtown Pittsburgh-based company anticipates revenue of $750 million to $1 billion from the contract. The work associated with the new contract will be performed at Allegheny Technologies new Baker, North Carolina , titanium and superalloy forging facility, scheduled to be completed this year. The North Carolina project is in addition to Allegheny Technologies pre-construction permitting for its $1.2 billion hot strip mill and processing facility at its Brackenridge complex. Production at the Brackenridge complex is expected to begin in 2012. ...

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