ATI and NLMK Sign Carbon Steel Hot-Rolling Conversion Agreement
October 18 2018 - 8:00AM
Business Wire
Allegheny Technologies Incorporated (NYSE: ATI) announced today
it has signed an agreement to provide carbon steel hot-rolling
conversion services for NLMK USA at ATI’s world-class Hot-Rolling
and Processing Facility, or HRPF, located in Brackenridge, PA. Slab
shipments to ATI will begin immediately and increase to anticipated
production levels in the first quarter of 2019. This agreement
covers conversion services through December 2019.
“We are pleased to announce this agreement with an innovative
partner like NLMK USA. They truly understand the value proposition
provided by our HRPF and the benefits that it can bring to their
end customers,” said Bob Wetherbee, ATI’s CEO-Designate and current
Executive Vice President, Flat Rolled Products Group. “This
agreement provides ATI with guaranteed fee-per-ton volumes and
significantly increases the asset utilization at our world-class
HRPF. This incremental volume benefits all HRPF-produced products.
We look forward to working with NLMK on additional growth
opportunities.”
“NLMK USA is pleased to enter into this agreement with ATI. It
expands our ability to supply the high-quality materials that US
manufacturers demand. Due to its immense power and unique
capabilities, ATI’s HRPF enables us to increase the breadth of our
product portfolio to better complement the products produced at our
Sharon, PA and Portage, IN facilities,” stated Bob Miller, Chief
Executive Officer, NLMK USA. “We were attracted to the HRPF’s
capabilities and its close proximity to many of our strategic
customers. ATI and NLMK were able to structure a win-win agreement
that will ultimately benefit NLMK’s end customers by providing
high-quality and distinctive carbon flat-rolled products at
competitive prices.”
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.
About NLMK USA
NLMK USA is one of the leading steel companies in the United
States. With production sites at NLMK Indiana, NLMK Pennsylvania
and Sharon Coating (NLMK Pennsylvania’s galvanizing operations),
NLMK USA produces flat rolled steel that is essential to modern
manufacturing. NLMK USA supplies high quality steel coils to the
construction, automotive, pipe and tube, and heavy equipment
industries in the United States.
Creating Value Thru Relentless Innovation™
ATI is a global manufacturer of technically advanced specialty
materials and complex components. With revenue of $3.8 billion for
the twelve-month period ending June 30, 2018, 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.
We are a leader in producing powders for use in next-generation jet
engine forgings and 3D-printed aerospace products.
ATIMetals.com
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version on businesswire.com: https://www.businesswire.com/news/home/20181018005086/en/
Allegheny Technologies IncorporatedInvestors:Scott A.
Minder,
412-395-2720scott.minder@atimetals.comorMedia:Natalie
Gillespie,
412-394-2850natalie.gillespie@atimetals.comwww.ATImetals.com
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