Allegheny Technologies Inc. is reorganizing its business units into two segments, High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S), explaining this will enhance its standing as a specialty materials manufacturer and "accelerate sustainable, long-term profitable growth."
The HPMC segment will include the ATI's forging operations, centered at Cudahy, WI, the site of an ongoing, $95-million capital investment project to expand isothermal forging and heat-treating capacities. ATI also produces hot-die forgings. HPMC is focused on aero-engine materials and components, and draws more than 80% of its revenue from the aerospace and defense markets. It's led by executive vice president John Sims.
“The segment is well positioned to profitably meet end-market demand growth and execute on market share gains achieved in our recently extended long-term customer agreements,” stated Robert S. Wetherbee, ATI president and CEO.
The AA&S segment combines ATI’s Specialty Alloys & Components and Flat Rolled Products businesses, and its aerospace-grade titanium plate products, and offers flat products to energy, aerospace, and defense markets.
“We are committed to generating increased shareholder value from our business portfolio and continually evaluate our structure to ensure that we deliver the optimal combination of growth and profitability,” Wetherbee said. “ATI is at its best when solving our customers’ most difficult challenges through materials science and our advanced, integrated process technologies.