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ATI Announces Long-Term Agreement With Goodrich Corporation

Dépèche transmise le 5 décembre 2011 par Business Wire

ATI Announces Long-Term Agreement With Goodrich Corporation

PITTSBURGH--(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”

“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/