ATI STAL Joint Venture Commissions New Line
SHANGHAI--(BUSINESS WIRE)--Mar 14, 2019--Allegheny Technologies Incorporated (NYSE: ATI) today commissioned STAL 3, the latest expansion of its 20-year STAL joint venture to produce precision stainless steel strip for China and the Asian markets. Thought to be the most advanced in the world, STAL 3 increases capacity by approximately 65%.
“This expansion allows us to meet the growing demands of the Asian market,” said Robert S. Wetherbee, President and CEO of ATI. “This enables us to produce the ultra thin, ultra flat, and ultra hard precision stainless steel products that are crucial to the functional parts of the consumer electronics industry—giving protection and rigidity to smartphones, as well as enabling more energy efficient flexible solar panels and narrow tolerance applications in many other industries.” STAL’s products are sold across Asia, including China, Japan, Korea, Singapore, Vietnam and India.
The expansion includes a 1219 mm (48”) wide Cold Rolling Mill enabling production of sheets thinner than a human hair, a bright anneal line and associated auxiliary finishing equipment.
The STAL joint venture was formed in 1995 with the purpose of specializing in the manufacturing and marketing of precision-rolled stainless steel strip products for the Asian market. It is located in the Xin-Zhuang Industrial Zone of Shanghai. The joint venture brought together what was then Allegheny Ludlum – now Allegheny Technologies – owning 60% and Shanghai No. 10 Iron and Steel Works – now China Baowu Steel Group – owning 40%. It was last expanded in 2007, when STAL 2 was brought on-line.
“ATI brings to the joint venture global coordination of key customer contracts, delivering a bigger global reach within Asia and the ability to make highly differentiated products for demanding industries,” said Kevin Kramer, Senior Vice President and Chief Commercial and Marketing Officer for ATI. “Combined with Baowu’s tremendous execution and reputation for excellence makes STAL a world leader in quality, production capability and sales.” STAL has been recognized in Shanghai as a double-excellence foreign-invested enterprise for eight consecutive years and has been certified as a new high-tech and advanced technology enterprise for 12 years.
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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 ASIA PACIFIC NORTH AMERICA CHINA PENNSYLVANIA
INDUSTRY KEYWORD: MANUFACTURING STEEL OTHER MANUFACTURING NATURAL RESOURCES MINING/MINERALS OTHER NATURAL RESOURCES
SOURCE: Allegheny Technologies Incorporated
Copyright Business Wire 2019.
PUB: 03/14/2019 07:45 AM/DISC: 03/14/2019 07:45 AM