Allegheny (ATI) To Supply Solutions For Oil Pipeline Project
Zacks Investment Research | Dec 10, 2017 08:12PM ET
Allegheny Technologies Incorporated (NYSE:ATI) declared that it has been chosen to supply nickel-based alloy products for a large oil pipeline repair project, which has estimated revenue value of $30 million to its Flat Rolled Products (FRP) segment. The company expects shipments to start in the first quarter of 2018.
The project required urgent replacement and the customer selected the company’s innovative solution enabled by its Hot-Rolling and Processing Facility (HRPF) capabilities, which highlights the industry’s shortest production cycle time for nickel-based alloy flat-rolled products.
Additionally, the company offered a highly competitive solution through the use of its differentiated continuous coil, which replaces discrete plate in this application. The differentiated product is made possible by the gauge control of the HRPF and unparalleled power reduction. The innovative solution is the result of the company’s broad manufacturing capabilities, leading technologies and operating reliability.
Allegheny believes that its highly engineered and differentiated specialty material solutions will help to expand its business in the chemical & hydrocarbon processing and oil & gas markets.
Shares of Allegheny have moved up 30.3% in the past six months, outperforming the
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