Allegheny Gets Titanium Supply Deal From Boeing

Long-term deal valued at about $2.5 billion.

Allegheny Technologies said Monday it signed a long-term agreement with Boeing for the supply of titanium products for commercial aerospace applications.

The expected total revenue under the agreement at base prices from 2007 through 2015 is about $2.5 billion, Allegeheny said. The aerospace titanium mill products covered by the agreement include ingot, billet, bar, rectangle, plate, and sheet.

“We are pleased to be a key contributor to Boeing’s long-term commercial aerospace growth plan,” said Patrick Hassey, Chairman, President and Chief Executive Officer of Allegheny Technologies. “ATI is investing to grow our titanium sponge, melting, and finishing capabilities to help meet the robust global demand for titanium products."

Allegheny previously announced capital investments for titanium sponge and further expansion of its titanium melt and finishing capabilities for both long products and flat-rolled products.