ATI Announces Long-Term Agreement With Goodrich Corporation
December 05 2011 - 8:45AM
Business Wire
Allegheny Technologies Incorporated (NYSE: ATI) announced that
it has signed a long-term sourcing agreement with the Goodrich
Corporation (NYSE: GR) for the supply of aerospace forgings used
for landing gear components. The agreement covers aerospace
structural forgings sold to Goodrich’s Landing Gear facilities
located in the US, Canada, and Poland by ATI Ladish’s ZKM Forging
operation for the period 2012 through 2015. ATI Ladish is an
operating unit of Allegheny Technologies. This agreement includes
forgings for commercial, regional, and business aircraft.
“We are pleased to announce this long-term agreement for
aerospace structural forgings which enhances ATI’s position in the
aerospace supply chain,” said Rich Harshman, Chairman, President
and Chief Executive Officer of Allegheny Technologies. “ATI Ladish
and the Goodrich Corporation have a solid long-term relationship.
This agreement demonstrates how we expect to broaden ATI’s
component offerings to the aerospace market. In addition, ATI ZKM
Forging, which is located in Poland’s Aviation Valley, expands
ATI’s global reach by providing a strong asset base in a
fast-growing region of the global aerospace supply chain.”
ATI ZKM Forging is located in Stalowa Wola, Poland. ATI ZKM
Forging has become one of Central Europe’s largest suppliers of
forgings. Customers around the world rely on ATI ZKM for the
durable, highly engineered components they need for a wide range of
demanding aerospace and industrial applications.
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.
Building the World’s Best Specialty Metals Company®
Allegheny Technologies Incorporated is one of the largest and
most diversified specialty metals producers in the world with
revenues of approximately $5.0 billion for the last twelve months.
ATI has approximately 11,300 full-time employees world-wide who use
innovative technologies to offer global markets a wide range of
specialty metals solutions. Our major markets are aerospace and
defense, oil and gas/chemical process industry, electrical energy,
medical, automotive, food equipment and appliance, machine and
cutting tools, and construction and mining. Our products include
titanium and titanium alloys, nickel-based alloys and superalloys,
grain-oriented electrical steel, stainless and specialty steels,
zirconium, hafnium, niobium, tungsten materials, forgings,
castings, and fabrication and machining capabilities. The ATI
website is www.ATImetals.com.
Goodrich Corporation, a Fortune 500 company, is a global
supplier of systems and services to aerospace, defense and homeland
security markets. With one of the most strategically diversified
portfolios of products in the industry, Goodrich serves a global
customer base with significant worldwide manufacturing and service
facilities. For more information visit http://www.goodrich.com/
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