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Last $19.34 USD
Change Today +0.30 / 1.58%
Volume 1.7M
ATI On Other Exchanges
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As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

allegheny technologies inc (ATI) Key Developments

Allegheny Technologies Warns of Lockout If Offer Fails, Steelworkers Say

Allegheny Technologies Inc. has threatened to lock out union workers in its flat-rolled products division unless they accept the company's 'last, best and final offer,' the United Steelworkers union said. The steelworkers union said the company demanded it put the offer to a vote of its 2,200 members by 3 p.m. Monday. The union quoted the company as saying that if the offer is not voted on, or is voted on and rejected, the company reserves its right to take lawful action, including a lockout.

Allegheny Technologies Inc. Makes Final Contract Offer

Allegheny Technologies has submitted its final contract offer to more than 2,000 United Steelworkers union-represented workers at plants in the Alle-Kiski Valley and elsewhere who are working under the terms of a labor agreement that expired June 30. The offer includes $4,500 in lump sum payments, up from $4,200 in its previous proposal. The proposal also would require workers to pay $125 a month for family healthcare coverage in the first year of the four-year contract, a contribution that would increase to $215 monthly by the final year of the contract. Those contribution levels were unchanged from the company's previous proposal. The USW refused to submit the company's previous proposal to a vote by members. They have said their high pay is based on the considerable number of overtime hours they work at the company's request. They also have objected to the company's demand to work irregular schedules. The contract dispute comes as the USW negotiates contracts with U.S. Steel and Arcelor Mittal to replace labor agreements that expire Sept. 1.

Allegheny Technologies Inc. Announces Management Changes

Allegheny Technologies Incorporated announced that John D. Sims has been named Executive Vice President, High Performance Materials and Components segment, effective immediately. Prior to this change, responsibility for ATI’s High Performance Materials and Components segment was divided between Mr. Sims, who was responsible for the Components Group businesses, and Hunter R. Dalton, who was responsible for the Specialty Materials Group businesses. Mr. Dalton has been named Executive Vice President, Strategic Growth Initiatives. In this new role, he will be responsible for helping develop ATI’s additive manufacturing business strategy and other profitable growth focused strategies. Mr. Sims and Mr. Dalton will continue to report to Richard J. Harshman, ATI’s Chairman, President and CEO, and will continue to serve on ATI’s Executive Leadership Council. The company also announced that Thomas J. Witheford will succeed Mr. Dalton as President of ATI Specialty Materials, which is part of the High Performance Materials and Components segment. Mr. Witheford will report to John Sims. Previously, Mr. Witheford was ATI Specialty Materials’ Senior Vice President, Operations, Technology and Quality. John Sims joined ATI in 1996 as a product metallurgist at continuous bar and rod mill operations in Richburg, SC. He advanced through a variety of technical and operational responsibilities at ATI Specialty Materials, including being named Vice President, Operations for ATI Specialty Materials in 2002. In September 2013, Mr. Sims was named Executive Vice President, High Performance Components Group. Prior to joining ATI, Mr. Sims served in a variety of operational and staff assignments during a 14-year career in the United States Navy. Hunter Dalton joined ATI in 1981 as an Industrial Engineer for ATI Specialty Materials. He advanced through a variety of commercial and operational responsibilities at ATI Specialty Materials, including being named Vice President, Operations in 1999. In 2003, Mr. Dalton was named Senior Vice President, Sales and Marketing for ATI Specialty Materials. In 2011, Mr. Dalton was named Executive Vice President, ATI High Performance Specialty Materials Group and President of ATI Specialty Materials. Tom Witheford joined ATI in 1988 as a Product Engineer at ATI’s melt operations in Latrobe, PA. He advanced through a variety of technical and operational responsibilities at ATI Specialty Materials, including being named Director, Billet Operations and General Manager of ATI’s Specialty Materials Nickel Billet SBU in 1999. In 2014, he was named Senior Vice President, Operations, Technology and Quality for ATI Specialty Materials. Mr. Witheford has a BS in Metallurgical Engineering and Materials Science from Case Western Reserve University.

Allegheny Technologies' Workers Demands New Deal

Several hundred members of the United Steelworkers union and other unions marched on Allegheny Technologies headquarters, demanding a fair contract for about 2,450 of the specialty metal producer's workers who have been working under the terms of a contract that expired June 30. Speakers at the rally accused Allegheny Technologies of not bargaining in good faith and selfishly looking out for management's interests. Referring to monthly health care premiums that have reduced his pension 39% retired USW worker Chuck Meredith criticized what he said was a 70% pay increase in recent years for chairman, CEO and president Rich Harshman.

Allegheny Technologies Inc. Presents at Deutsche Bank 6th Annual Global Industrials and Basic Materials Conference 2015, Jun-03-2015

Allegheny Technologies Inc. Presents at Deutsche Bank 6th Annual Global Industrials and Basic Materials Conference 2015, Jun-03-2015 . Venue: The Westin Chicago River North, 320 North Dearborn Street, Chicago, IL 60654, United States. Speakers: Patrick J. DeCourcy, Chief Financial Officer and Senior Vice President of Finance.

 

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Price/Book 0.8x
Price/Cash Flow 138.6x
TEV/Sales 0.0x
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