Oct. 26, 2016

ATI to Close Two Facilities

Allegheny Technologies, Inc., will permanently close its Midland, Pa., commodity stainless steel melt and finishing facility. ATI will also close its grain-oriented electrical steel finishing facility in Bagdad, Pa.

The operations were idled earlier in 2016. Based on current and predicted market and competitive conditions, including the anticipation of significant excess global capacity for commodity stainless steel sheet and GOES products, the company does not believe the facilities can be operated at an acceptable rate of return.

“Our Flat Rolled Product segment continues to be impacted by uncertain end market demand, low raw materials prices, and global commodity stainless steel sheet and strip overcapacity,” says Rich Harshman, president, chairman and CEO of ATI.

The decision to close the facilities follows the company's previously announced plans to idle its Rowley titanium sponge facility in Utah. The shutdown there is expected to be completed in the fourth quarter.


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Sunday, October 22, 2017