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.
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.