Allegheny Technologies

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Allegheny Technologies Incorporated
Public company
Traded asNYSEATI
S&P 400 Component
Founded1996; 23 years ago (1996)
HeadquartersPittsburgh, Pennsylvania, United States
Area served
Worldwide
Key people
Richard J. Harshman (Chairman), Robert S. Wetherbee (President) & (CEO)
ProductsTitanium and titanium alloys, nickel-based alloys and superalloys, stainless and specialty steels, zirconium, hafnium, and niobium, tungsten materials, forgings and castings
RevenueIncrease $4.0 billion (2018)
Increase $222 million (2018)
Total assetsIncrease $5.185 billion (2017)
Total equityIncrease $1.739 billion (2017)
Number of employees
8,600 (2017)
Websitewww.atimetals.com
Footnotes / references
[1][2]
Midland Works

Allegheny Technologies Incorporated (ATI) is a specialty metals company headquartered at Six PPG Place in Pittsburgh, Pennsylvania.

ATI produces titanium and titanium alloys, nickel-based alloys and superalloys, grain-oriented electrical steel, stainless and specialty steels, zirconium, hafnium, and niobium, tungsten materials, forgings and castings.[1]

ATI's key markets are aerospace and defense particularly commercial jet engines (over 50% of sales), oil & gas, chemical process industry, electrical energy, and medical.[1]

The company organizes its products into 2 segments:[1]

  • High Performance Materials & Components, which includes titanium-based alloys, nickel-based alloys and superalloys, zirconium and hafnium.
  • Flat Rolled Products, which includes titanium and titanium alloys, nickel-based alloys, specialty alloys, duplex alloys in sheet, strip, and plate form, grain-oriented electrical steel.

The company's plants in Western Pennsylvania include facilities in Harrison Township (Allegheny Ludlum's Brackenridge Works), Vandergrift, and Washington. The company also has plants in: Illinois; Indiana; Ohio; Kentucky; California; South Carolina; Oregon; Alabama; Texas; Connecticut; Massachusetts; North Carolina; Wisconsin; Shanghai, China; and several facilities in Europe.[1]

History[edit]

In 1939, the merger of Allegheny Steel of Pittsburgh and Ludlum Steel of Watervliet, New York created Allegheny Ludlum Corporation; prior to the merger, the companies had manufactured steel for the Chrysler Building and Empire State Building in New York City. Allegheny Steel had produced stainless steel brightwork for the Model A Ford starting in 1930[3]

Through the 1970s, Allegheny Ludlum periodically cooperated with Ford to build several one-off promotional cars with stainless steel bodies. Three such cars are on display in the Crawford Auto-Aviation Museum.[4]

In 1978, the company acquired Wilkinson Sword and Scripto.[5]

Scripto was sold to the Tokai Corporation of Japan in 1984.[6]

In 1986, the company suffered a $198 million operating loss and chairman Robert Buckley, stepped down amid accusations of mismanagement. In 1987, Wilkinson Sword was sold to Swedish Match for $230 million.[7]

In 1987, Allegheny Ludlum became a public company via an initial public offering.[8]

In 1993, the company acquired Jessop Steel.[9]

In 1996, it merged with Teledyne to form Allegheny Technologies.[8] The company then spun off several subsidiaries as independent public companies such as Teledyne Technologies and WaterPik Technologies in 1999, to concentrate on its core business of metal and alloy production.[8]

In 1998, the company acquired certain assets of Lukens Washington Steel when it was sold to Bethlehem Steel.[10][11]

In 2004, the company acquired J&L Specialty Steel.[12]

In 2005, the company sold its World Minerals subsidiary to French company Imerys.[13]

In 2010, the company acquired Ladish for $778 million.[14]

Allegheny Technologies debuted its ATI 425 Titanium Alloy on June 14, 2010, at the land and air-land defense and security exhibition Eurosatory in Paris, France.[15]

Environmental record[edit]

Allegheny Ludlum's Natrona, Pennsylvania and Brackenridge, Pennsylvania plants contributed to the waste at the ALSCO Park Lindane Dump, an EPA Superfund site. These plants also released chromium into the air, which adversely affected air quality at schools in the Highlands School District.[16]

In 2005, Allegheny Ludlum agreed to pay a $2,375,000 penalty to settle a lawsuit brought by the U.S. Department of Justice on behalf of the United States Environmental Protection Agency in 1995, which alleged that the company had unlawfully discharged oil and other pollutants, such as chromium, zinc, copper, and nickel, into the Allegheny River and Kiskiminetas River in the suburbs of Pittsburgh.[17]

References[edit]

  1. ^ a b c d e "Allegheny Technologies Incorporated 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "Allegheny Technologies". Fortune. Retrieved 2019-02-11.
  3. ^ "Plating vs. Painting Model A Parts". Model A Club, Penn, Ohio. September 3, 2011. Retrieved February 3, 2019.
  4. ^ McGuire, Bill (December 9, 2014). "A visit to the Crawford Auto Aviation Collection". Mac's Motor City Garage.
  5. ^ Dougherty, Philip H. (August 3, 1984). "ADVERTISING; SCRIPTO'S BUILDUP FOR A LIGHTER". The New York Times.
  6. ^ "Scripto Pen Company records, Atlanta History Center". University System of Georgia.
  7. ^ "Wilkinson Sale At $230 Million". The New York Times. Reuters. March 31, 1987.
  8. ^ a b c Boselovic, Len (December 14, 1999). "Allegheny Tecnologies's [sic] Simmons says 'Sayonara'". Pittsburgh Post-Gazette.
  9. ^ "Allegheny Technologies Announces Management Changes" (Press release). Business Wire. January 16, 2009.
  10. ^ Adams, Chris (January 29, 1998). "Bethlehem Steel Wins Lukens Bid And Agrees to Deal With Rival". The Wall Street Journal.
  11. ^ Somerville, Sean (January 29, 1998). "Beth Steel wins battle for Lukens 400 jobs will be lost as Sparrows Point plate mill is closed". The Baltimore Sun.
  12. ^ "Allegheny Technologies to Acquire J&L Specialty Steel Assets" (Press release). Business Wire. February 17, 2004.
  13. ^ "Alleghany Completes Sale of Industrial Minerals Business" (Press release). Business Wire. July 14, 2005.
  14. ^ "Allegheny Technologies Buys Ladish for $778 Million". The New York Times. November 17, 2010.
  15. ^ "Allegheny Technologies, Form 8-K, Current Report, Filing Date July 28, 2010" (PDF). secdatabase.com. July 28, 2010.
  16. ^ Yerace, Tom (December 10, 2008). "Pollution around Highlands schools among worst in nation". Pittsburgh Tribune-Review.
  17. ^ "Allegheny Ludlum Corp. to Pay $2,375,000 Penalty for Clean Water Act Violations at Pittsburgh-area Plants" (Press release). United States Environmental Protection Agency. February 1, 2005.

External links[edit]