Allegheny Technologies’s (ATI) board of directors has given its approval to a $95m investment to boost its iso-thermal forging and heat treating capacities to meet the increasing demand from the aerospace jet engine market.
This investment will be spent on ATI’s fourth iso-thermal press and associated heat treating centre in Cudahy, Wisconsin, US. Work will take approximately three years to complete and fully qualify for aerospace-related production.
ATI chairman, president and CEO Rich Harshman said: “We continue to invest in our advanced forging capabilities in support of our aerospace customer’s ramp-up of next-generation jet engine production.
“Once completed and fully qualified, this critical growth project will enable us to meet the increasing production requirements for existing long-term agreements with our engine OEM partners.
“Iso-thermal is the most technologically advanced forging method available today and ATI’s ongoing leadership in this area is further solidified by this significant investment.”
HPMC Segment executive vice-president John Sims said: “This investment, along with our recent nickel-based superalloy powder expansion in Monroe, NC, will enable the High Performance Materials and Components (HPMC) segment to meet its longer-term financial goals by increasing our capacity to produce technologically advanced powder-to-iso-thermally-forged jet engine components.
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By GlobalData“We are excited to add this capacity to our existing iso-thermal forging centre of excellence in Cudahy, WI, and to deepen our commitment to the state of Wisconsin and to our local workforce.”
ATI is a manufacturer of advanced specialty materials and complex components. It posted revenue of $3.5bn for last year.
