Diversified specialty metals producer Allegheny Technologies Incorporated (ATI) Friday announced that it has signed two long-term agreements to supply zirconium alloy products. The agreements cover products sold by the ATI operating company Wah Chang. The total potential revenue from the two agreements us is estimated to be over $250 million.
“We are pleased to announce the signing of long –term agreements with these nuclear energy companies,” said ATI President and CEO L. Patrick Hassey.
The agreements are with two well-established companies in the global nuclear energy industry. One agreement is an extension of a 40-plus year strategic relationship with a nuclear fuel and component company. The other is a new multi-year contract with a nuclear steam system supplier.
“Our previously announced zirconium sponge expansion project is expected to be completed in 2010,” said Hassey. “This expansion doubles our reactor-grade zirconium sponge capacity to approximately 8 million pounds per year, making ATI the world’s largest producer of this critical metallic product. This capacity, coupled with our integrated manufacturing capabilities enables ATI to continue to grow our position as a critical supply chain partner to the global energy market.”