Allegheny Technology Inc. (ATI) based in Pittsburgh, PA, USA, reported a 33% increase in sales over 2009 figures to reach US $4.05 billion. Segment operating profit was reported at $356.5 million, or 8.8% of sales. Shipments for most products were said to have recovered from the low levels of 2009.
The ATI group of companies includes high performance PM alloy operations at ATI Powder Alloys, and cemented carbide products at ATI Metalworking Products as well as ATI Firth Sterling. L. Patrick Hassey, Chairman and CEO said that during 2010, ATI’s key global markets, namely aerospace and defense, the oil and gas/chemical process industry, electrical energy, and medical, represented over 67% of ATI’s sales. Direct international sales accounted for nearly 32% of total sales.
Hassey expects 2011 revenue growth of 15% to 20% compared to 2010, and expects segment operating profit to be approximately 15% of sales. “We expect to benefit from our ongoing market and product development activities aimed at introducing innovative new ATI alloys and extending our reach into our key global markets with product forms that are new to ATI,’’ stated Hassey.