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|ATI Announces Long-Term Agreement for Rene 65 Alloy|
PITTSBURGH, Apr 25, 2012 (BUSINESS WIRE) --Allegheny Technologies Incorporated (NYSE: ATI) announced today that it has signed a long-term sourcing agreement with GE Aviation, an operating unit of General Electric Company (NYSE: GE), for the supply of Rene 65 Alloy. Rene 65 Alloy, a future-generation alloy, is the newest nickel-based superalloy developed by ATI in collaboration with GE Aviation. The agreement covers Rene 65 Alloy disc-quality mill products sold to GE Aviation and its suppliers by ATI Allvac, an operating unit of Allegheny Technologies.
"We are pleased to announce the signing of this long-term agreement for Rene 65 Alloy with GE Aviation," said Rich Harshman, Chairman, President, and Chief Executive Officer of ATI. "This cooperative development effort between ATI and GE Aviation to create a cost-effective disc-quality product for use in jet engines operating at increasingly higher temperatures began just over four years ago. GE and its supply chain partners are in the process of taking advantage of the cost benefits and capabilities of Rene 65 Alloy by implementing the alloy in both legacy and next-generation jet engines.
"The short time involved in the development of Rene 65 Alloy is unprecedented and required a tremendous engineering effort by GE and ATI. This process illustrates the value that our integrated aerospace supply chain brings to new product development. We produce Rene 65 Alloy billet at our new Titanium and Superalloy Forging Facility (TSAF), which houses the largest and most powerful open-die forge presses in our industry. The Rene 65 Alloy billet is forged at ATI Ladish (& other forgers) using both isothermal forging and hot die forging into several jet engine components. The real-time technology exchange between GE Aviation and ATI's mill product and forging metallurgists significantly compressed the time it took to take Rene 65 Alloy from an idea to a qualified product."
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SOURCE: Allegheny Technologies Incorporated
Allegheny Technologies Incorporated