Allegheny Teledyne Responds to Inquiries Regarding Nickel Alloys Industry Subpoena.PITTSBURGH--(BUSINESS WIRE)--Aug. 17, 1999-- Allegheny Teledyne Incorporated (NYSE NYSE See: New York Stock Exchange :ALT (character) alt - /awlt/ 1. The alt modifier key on many keyboards, including the IBM PC. On some keyboards and operating systems, (but not the IBM PC) the alt key sets bit 7 of the character generated. See bucky bits. 2. ) confirmed that it has received a subpoena subpoena (səpē`nə) [Lat.,=under penalty], in law, an order to a witness to appear before a court. A subpoena ad testificandum [Lat. from a federal grand jury investigating possible violations of the federal antitrust laws antitrust laws n. acts adopted by Congress to outlaw or restrict business practices considered to be monopolistic or which restrain interstate commerce. The Sherman Antitrust Act of 1890 declared illegal "every contract, combination.... in the nickel alloys Noun 1. nickel alloy - an alloy whose main constituent is nickel nickel-base alloy alloy, metal - a mixture containing two or more metallic elements or metallic and nonmetallic elements usually fused together or dissolving into each other when molten; "brass industry. The company is cooperating with the Department of Justice regarding their investigation. Sales of nickel-based alloys represent less than ten percent of Allegheny Teledyne's revenue. Richard P. Simmons, Allegheny Teledyne's chairman, president and chief executive officer, said, "We have a comprehensive program in our company designed to ensure that the antitrust laws are complied with. We are confident that our program is effective and well understood by our employees. I am confident that our employees would not violate the antitrust laws." Allegheny Teledyne Incorporated is a diversified manufacturing company serving global markets with specialty metals, aerospace, electronic, industrial, and consumer products. The company is one of the largest and most diversified specialty metals producers in the world. With talented people using innovative technologies and systems, Allegheny Teledyne's goal is to be the low cost, high quality supplier to global markets. Allegheny Teledyne's website can be found at http://www.alleghenyteledyne.com. |
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