ATI Wins $45 Million Supply Contract for Deepwater Pipeline
PITTSBURGH--(BUSINESS WIRE)--Mar 28, 2019--Allegheny Technologies Incorporated (NYSE: ATI) has been selected to supply the nickel-based flat rolled products for a large oil pipeline project in South America. Revenue to the ATI Flat Rolled Products (FRP) segment is expected to be approximately $45 million, with shipments beginning in second quarter 2019 and scheduled to be completed by year-end.
“ATI’s differentiated products will help to facilitate increased energy production in the region,” said Jeff Thompson, Vice President of Sales for FRP. “Our customer chose ATI due to our unbeatable combination of the shortest industry lead times, high quality products, and our unique material properties.
“ATI delivers a highly competitive solution to our customers through the use of differentiated continuous coil instead of discrete plate for this application,” said Mr. Thompson. “The unparalleled reduction power and gauge control of the Hot-Rolling and Processing Facility (HRPF) makes this possible. It also enables tighter tolerances and gauge controls that, combined with ATI’s specialized melt technology, enable us to produce materials with proven corrosion resistance in the demanding subsea oil production environment,” said Mr. Thompson.
ATI’s leading technologies, broad manufacturing capabilities, and operating reliability power our competitive advantage in serving our customers and growing our business in the oil & gas and chemical & hydrocarbon processing markets through highly engineered and differentiated specialty material solutions.
Creating Value Thru Relentless Innovation™
ATI is a global manufacturer of technically advanced specialty materials and complex components. ATI revenue was $4.0 billion for the twelve-month period ended December 31, 2018. Our largest markets are 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. We are a leader in producing powders for use in next-generation jet engine forgings and 3D-printed aerospace products. See more at our website ATImetals.com.
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CONTACT: Investor Contact:
Scott A. Minder
KEYWORD: UNITED STATES NORTH AMERICA SOUTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: ENERGY OIL/GAS MANUFACTURING AEROSPACE CHEMICALS/PLASTICS ENGINEERING STEEL OTHER MANUFACTURING NATURAL RESOURCES MINING/MINERALS OTHER NATURAL RESOURCES
SOURCE: Allegheny Technologies Incorporated
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PUB: 03/28/2019 07:15 AM/DISC: 03/28/2019 07:15 AM