Jan 22 2007
Allegheny Technologies Incorporated announced that its Board of Directors has approved the expansion of the Company’s titanium and specialty plate facility located in Washington, PA. The purpose of the capital project is to meet growing demand from the aerospace and defense, chemical process industry, oil and gas, and electrical energy markets. ATI expects this investment to be approximately $60 million with completion planned for the second quarter 2008.
“Expanding our titanium and specialty plate capabilities balances our production flow with our previously announced titanium sponge, titanium melt, and nickel-based alloy melt growth projects,” said Patrick Hassey, Chairman, President and Chief Executive Officer of Allegheny Technologies. “The expected return on this self-funded growth investment is very attractive.
“ATI’s long-term titanium supply agreement in the aerospace airframe market and projected growth in demand from the defense market and from markets vital to building and rebuilding the global infrastructure make this project a necessity to achieving our strategic growth objectives. Together, these markets provide exciting growth prospects for our titanium and titanium alloy, duplex alloy, superaustenitic alloy, nickel alloy, zirconium alloy, and stainless steel plate products.”
The titanium and specialty plate capital project includes increasing reheat furnace, annealing, and flattening capacity at ATI’s existing plate mill. In addition, ATI’s plate size capabilities are being expanded and significant productivity improvements are being made.
In addition to titanium and titanium alloys, ATI’s specialty plate products include duplex alloys, superaustenitic alloys, nickel-based alloys, zirconium alloys, armor plate, and common austenitic stainless grades. Plate is a flat-rolled mill product that is 3/16 inch (4.76 mm) thick, or greater, and over 10 inches (254 mm) wide.