Ati Agreement

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PITTSBURGH–(BUSINESS WIRE)-Allegheny Technologies Incorporated (NYSE: ATI) announced that it has extended its employment contract with the United Steelworkers (ETC) for more than 1,300 employees in the company`s special and standard rolling products and other sites by one year. As part of this renewal, the language that governs workers` wage, performance and work rules remains unchanged until 28 February 2021. As a sign of good faith to resume negotiations on a new contract next year, the company will pay each insured employee a one-time renewal bonus of 500 $US. Several long-term agreements on high-quality materials and pittsburgh parts PITTSBURGH—Allegheny Technologies Incorporated (NYSE: ATI) announced today that it has entered into several new long-term contracts with GE Aviation (NYSE: GE) for the supply of hot and insulated blacksmiths used in commercial engine manufacturing. These agreements will begin in January 2021 and are multi-year agreements. ATI expects revenue of approximately $2.5 billion over the life of these agreements, averaging more than $300 million per year. “We are pleased to expand and expand our six-decade partnership with GE Aviation. These long-term agreements demonstrate GE Aviation`s confidence in ATI to provide the highest quality materials and components in its production lines on time,” said Robert S. Wetherbee, President and Chief Executive Officer of ATI.

“ATI`s comprehensive scientific know-how and unique process capabilities enable us to work with our customers to develop and manufacture the materials and components that enable today`s hotest and fuel-efficient jet engines.” Investor Contact: Scott A. Minder 412-395-2720 scott.minder@atimetals.com The extension applies to approximately 1,300 employees covered by the master`s contract and working at nine sites: Pennsylvania, Brackenridge, Latrobe, Natrona Heights, Vandergrift and Washington; as well as Lockport, New York; Louisville, Ohio New Bedford and Waterbury, Connecticut. It also includes the local 7150 in Albany, Oregon. “With USW, we are extending the terms of our current contract by one year,” said Kimberly A. Fields, Executive Vice President Advanced Alloys Solutions. “This gives us stability in these very difficult times, allowing us to focus on the safety of our employees and the continuation of our activities. All information you have entered is subject to the ATI`s privacy policy. ATI is a global manufacturer of advanced technical materials and complex components. ATI`s revenue was $4.1 billion for the twelve months ended September 30, 2019.

Our main markets are aerospace – defence, especially jet thrusters. We also have a strong presence in the oil and gas, energy, medical, automotive and other industrial markets. ATI is a market leader in the manufacture of differentiated alloys and forged parts that require our unique precision manufacturing and processing capabilities and innovative new product development skills.

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Therefore, it must be made clear that the parties understand the terms of the agreement and are ready to enter into such an agreement under the negotiated terms. Before an agreement can be a legally binding contract, there must be two factors. First, there must be an agreement between two […]