ATI Realigns Business Portfolio
Allegheny Technologies Inc. (ATI) announced a realignment of its business segments to further enhance its position as a leading specialty materials manufacturer and to accelerate sustainable long-term profitable growth. Starting with first-quarter 2020 financial results, ATI will report in two business segments: a streamlined High Performance Materials & Components (HPMC) segment and the new Advanced Alloys & Solutions (AA&S) segment.
High Performance Materials & Components (HPMC) includes the Specialty Materials and Forged Products business units. The updated HPMC segment intensifies its primary focus on maximizing aero-engine materials and components growth. The Forged Products business unit provides a broad range of forging capabilities, including isothermal and hot-die forging for aerospace, defense and other high-performance applications. The Specialty Materials business unit provides a range of nickel, cobalt and titanium-based alloy mill products and powders primarily for aero-engine and airframe applications.
Advanced Alloys & Solutions (AA&S) combines ATI’s Specialty Alloys & Components and Flat Rolled Products businesses, as well as its aerospace-grade titanium plate products, into a single entity focused on delivering high-value flat products primarily to the energy, aerospace and defense markets. AA&S closely aligns melting technologies with hot-rolling capabilities to produce products with faster flow times and lower costs.