allegheny technologies inc (ATI) Key Developments
Allegheny Technologies Incorporated Receives Additional Orders for Nickel-Based Alloy Plate for a Large Oil & Gas Pipeline Project
Nov 24 14
Allegheny Technologies Incorporated announced that 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.
Allegheny Technologies Inc. Presents at Northcoast Fall Management Forum, Nov-05-2014
Nov 2 14
Allegheny Technologies Inc. Presents at Northcoast Fall Management Forum, Nov-05-2014 . Venue: Grand Hyatt Hote, New York, New York, United States.
Allegheny Technologies Incorporated Appoints Elizabeth C. Powers as Senior Vice President, Chief Human Resources Officer, Effective November 1, 2014
Oct 23 14
Allegheny Technologies Incorporated announced that Elizabeth C. Powers has been named ATI's Senior Vice President, Chief Human Resources Officer, effective November 1, 2014. In this new executive leadership position, Ms. Powers will lead the integration, alignment and coordination of ATI's global human resources activities including talent acquisition, training and development; compensation and benefits; policies and processes; labor relations; and diversity and inclusion programs. Ms. Powers will report to Richard J. Harshman, ATI's Chairman, President and CEO, and will be a member of ATI's Executive Council. She will be based at ATI's Corporate Headquarters in Pittsburgh, PA. Beth Powers has 28 years of experience in human resources. Most recently, she was Vice President, Human Resources and Chief Administrative Officer for Dresser-Rand Group Inc. Prior to Dresser-Rand, Beth spent 16 years with Ingersoll Rand where she served in human resources and labor relations leadership positions with increasing responsibilities.
Allegheny Technologies Inc. Reports Un-Audited Consolidated Earnings Results for the Third Quarter and Nine Ended September 30, 2014; Provides Capital Expenditures Guidance for the Year 2014
Oct 21 14
Allegheny Technologies Inc. reported un-audited consolidated earnings results for the third quarter and nine ended September 30, 2014. For the quarter, the company reported sales of $1.07 billion compared to $972.4 million in the last year. Net loss attributable to the company of $0.7 million, or $0.01 per diluted share compared to $33.8 million or $0.32 per diluted share in last year. Results improved over the second quarter 2014 net loss attributable to the company of $3.8 million, or $0.03 per diluted share, on sales of $1.12 billion. The company reported income from continuing operations before income taxes of $4.1 million compared to loss from continuing operations before income taxes of $35.3 million, income from continuing operations of $3.6 million or $0.01 per basic share compared to loss from continuing operations of $26.8 million or $0.27 per diluted share for the last year. Sales increased 9% to $507.7 million compared to the third quarter 2013 primarily as a result of higher mill product shipments, which were partially offset by lower base-selling prices for most products.
For the nine months, the company reported sales of $3.2 billion compared to $3.1 billion in last year. Net loss attributable to the company of $24.7 million, or $0.23 per diluted share compared to $19.4 million or $0.18 per diluted share in last year. The company reported loss from continuing operations before income taxes of $25.3 million compared to $14.0 million, loss from continuing operations of $12.9 million or $0.20 per diluted share compared to $9.6 million or $0.14 per diluted share, cash used in operating activities of $38.2 million compared to cash provided by operating activities of $227.4 million and purchases of property, plant and equipment of $157.5 million compared to $395.5 million for the last year.
The company currently expect 2014 capital expenditures to be approximately $250 million based upon the timing of expenditures, of which $158 million was spent in the first nine months.
Allegheny Technologies Incorporated Signs Agreement to Supply Titanium Investment Cast Products to Snecma
Oct 20 14
Allegheny Technologies Incorporated announced that it has signed an agreement to supply titanium investment cast products to Snecma (Safran) for use in single-aisle and business jet engine programs, including the CFM LEAP family. The new agreement begins in 2015 and extends into the next decade. The new agreement builds on long-term strategic relationship with Snecma (Safran) and recognizes integrated capabilities from raw materials (titanium sponge) through mill products to forgings, investment castings, and components.