Allegheny Technologies Sells Titanium Industries North American Operations.Business Editors PITTSBURGH--(BUSINESS WIRE)--Nov. 6, 2001 Allegheny Technologies Incorporated (NYSE NYSE See: New York Stock Exchange :ATI (ATI Technologies Inc., Markham Ontario, http://ati.amd.com) A leading manufacturer of graphics chips and display adapters. Founded in 1985 by K. Y. Ho, Benny Lau and Lee Lau, ATI chips and boards are widely used by OEMs. ) announced that it has sold the North American operations of its titanium distribution company, Titanium Industries Inc., to a newly formed company which is led by current Titanium Industries management. Details of the cash transaction were not disclosed. Allegheny Technologies will retain titanium service centers located in the United Kingdom, Germany, and France as well as Titanium Wire Corporation, its titanium wire manufacturing operation located in Pennsylvania. Allegheny Technologies Incorporated (NYSE:ATI) is one of the largest and most diversified specialty materials producers in the world with revenues of approximately $2.5 billion in 2000. The Company has over 11,000 employees world-wide and its talented people use innovative technologies to offer growing global markets a wide range of specialty materials. High-value products include nickel-based and cobalt-based alloys and superalloys, titanium and titanium alloys, specialty steels, super stainless steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. , exotic alloys, which include zirconium zirconium (zərkō`nēəm), metallic chemical element; symbol Zr; at. no. 40; at. wt. 91.22; m.p. about 1,852°C;; b.p. 4,377°C;; sp. gr. 6.5 at 20°C;; valence +2, +3, or +4. , hafnium hafnium (hăf`nēəm), metallic chemical element; symbol Hf; at. no. 72; at. wt. 178.49; m.p. about 2,227°C;; b.p. 4,602°C;; sp. gr. 13.31 at 20°C;; valence +4. and niobium niobium (nīō`bēəm), metallic chemical element; symbol Nb; at. no. 41; at. wt. 92.9064; m.p. about 2,468°C;; b.p. 4,742°C;; sp. gr. 8.57 at 20°C;; valence +2, +3, +4, or +5. , tungsten materials, and highly engineered strip and Precision Rolled Strip(R) products. In addition, we produce general-purpose specialty materials such as stainless steel sheet and plate, silicon and tool steels, and forgings and castings. Allegheny Technologies website can be found at http://www.alleghenytechnologies.com. |
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