Allegheny Technologies Incorporated (NYSE: ATI) today announced that it has extended its Long-Term Purchase Agreement (LTPA) with Rolls-Royce to supply rotating disc quality specialty materials for their Trent engine family. The LTPA extends Rolls-Royce and ATI’s agreement through 2029.
“We are pleased to extend our long-standing relationship with Rolls-Royce, partnering with them on the development of next generation jet engines and supporting their legacy jet engine supply chain,” said Robert S. Wetherbee, ATI’s President and Chief Executive Officer. “This agreement reliably secures Rolls-Royce’s supply of critical materials for their innovative engine portfolio for the next ten years.”
“This agreement covers the production of a wide range of critical products used to make Rolls-Royce’s next-generation jet engines as well as spare parts for in-service engines. It supports ATI’s market-leading alloy development and broad production capabilities, including our iso-thermal forging operations,” said John Sims, Executive Vice President, High Performance Materials and Components Segment. “In recognition of ATI’s commitment to innovation, quality and operational reliability, Rolls-Royce awarded ATI a majority share of all materials covered under this LTPA. We are honored to support Rolls-Royce as they work to confidently deliver on this unprecedented aerospace ramp.”
“We are very pleased to have signed another long-term agreement with ATI for disc quality nickel alloys. Rolls-Royce’s supply chain requires on time delivery of the highest quality materials. ATI’s track record of cost, quality and delivery performance has been a key consideration in award of this contract. This new contract provides an opportunity for Rolls-Royce and ATI to further develop their relationship and to enjoy engine production and services volume growth,” said Warrick Matthews, Executive Vice President, Procurement and Installations Supply Chain, Rolls-Royce.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which we are unable to predict or control, that may cause our actual results, performance or achievements to materially differ from those expressed or implied in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in our filings with the Securities and Exchange Commission. We assume no duty to update our forward-looking statements.