ATI Extends Long-Term Purchase Agreement With Rolls-Royce
April 04 2019 - 7:15AM
Business Wire
10-year agreement powers next-generation and
legacy jet engine supply chains
Allegheny Technologies Incorporated (NYSE: ATI) today announced
that it has extended its Long-Term Purchase Agreement (LTPA) with
Rolls-Royce to supply rotating disc quality specialty materials for
their Trent engine family. The LTPA extends Rolls-Royce and ATI’s
agreement through 2029.
“We are pleased to extend our long-standing relationship with
Rolls-Royce, partnering with them on the development of next
generation jet engines and supporting their legacy jet engine
supply chain,” said Robert S. Wetherbee, ATI’s President and Chief
Executive Officer. “This agreement reliably secures Rolls-Royce’s
supply of critical materials for their innovative engine portfolio
for the next ten years.”
“This agreement covers the production of a wide range of
critical products used to make Rolls-Royce’s next-generation jet
engines as well as spare parts for in-service engines. It supports
ATI’s market-leading alloy development and broad production
capabilities, including our iso-thermal forging operations,” said
John Sims, Executive Vice President, High Performance Materials and
Components Segment. “In recognition of ATI’s commitment to
innovation, quality and operational reliability, Rolls-Royce
awarded ATI a majority share of all materials covered under this
LTPA. We are honored to support Rolls-Royce as they work to
confidently deliver on this unprecedented aerospace ramp.”
“We are very pleased to have signed another long-term agreement
with ATI for disc quality nickel alloys. Rolls-Royce’s supply chain
requires on time delivery of the highest quality materials. ATI’s
track record of cost, quality and delivery performance has been a
key consideration in award of this contract. This new contract
provides an opportunity for Rolls-Royce and ATI to further develop
their relationship and to enjoy engine production and services
volume growth,” said Warrick Matthews, Executive Vice President,
Procurement and Installations Supply Chain, Rolls-Royce.
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.
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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version on businesswire.com: https://www.businesswire.com/news/home/20190404005062/en/
Investor Contact:Scott A.
Minder412-395-2720scott.minder@atimetals.com
Media Contact:Natalie
Gillespie412-394-2850natalie.gillespie@atimetals.com
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