Allegheny Gets Addl. Orders For Nickel-based Alloy Plate For Energy Project

(RTTNews) - Specialty materials company Allegheny Technologies Inc (ATI) said Monday it has received an additional order for its nickel-based alloy plate to be used in a large oil & gas pipeline project. ATI previously announced that it had booked initial orders for this project. Shipments are scheduled to begin in late fourth quarter 2014 and continue through the first half of 2015.

"Total expected revenue of approximately $145 million from these orders represents the largest participation in a project in ATI's history," said Rich Harshman, Chairman, President and Chief Executive Officer.

"For perspective, expected revenue from these orders is greater than 25% of ATI's sales to the Oil & Gas/Chemical Process Industry for the first nine months of 2014. We received a large share of this project due to the quality of our nickel-based alloy plate that is enabled by ATI's unique supply chain, including our Flat Rolled Products segment specialty alloy plate facility."