Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


August 01, 2015 9:19 PM ET

Metals and Mining

Company Overview of Allegheny Ludlum LLC

Company Overview

Allegheny Ludlum LLC, doing business as ATI Allegheny Ludlum Corporation, manufactures and markets stainless steels, silicon electrical steels, tool steels, titanium, and nickel alloy materials. It offers stainless steel products, including austenitic, duplex, ferritic, martensitic, precipitation hardening, superaustenitic, and superferritic; nickel and cobalt alloy products, including corrosion resistant and electronic; titanium and titanium alloy flat-rolled products; grain-oriented electrical steel products; and steel armor plates. The company serves customers in consumer and capital goods markets, including aerospace airframes and engines, architecture and construction, defense, electron...

100 River Road

Brackenridge, PA 15014-1597

United States

Founded in 1938

6,000 Employees

Phone:

724-224-1000

Fax:

724-226-6562

Key Executives for Allegheny Ludlum LLC

Allegheny Ludlum LLC does not have any Key Executives recorded.

Allegheny Ludlum LLC Key Developments

U.S. District Court Dismisses Lawsuit of Contract Claims Arising from Increased Health Insurance Costs

The U.S. District Court for the Western District of Pennsylvania dismissed union retirees' breach of contract claims arising from increased health insurance costs, finding that the continuation of coverage clause in the relevant collective bargaining agreements unambiguously did not create a vested right to no-cost health insurance. The ERISA statute of limitations barred breach of fiduciary duty claims. Allegheny Ludlum Corp. provided health insurance benefits for active and retired employees through an employee health benefit plan. Prior to Jan. 1, 2008, Allegheny provided benefits at no cost. After January 1, retirees had to pay a monthly premium. Eight former union employees of Allegheny sued the corporation on behalf of themselves and several thousand former union employees and their spouses or dependents. The complaint asserted breach of contract and ERISA breach of fiduciary duty claims. The plaintiffs specifically alleged that retired union employees were entitled to no-cost lifetime health benefits pursuant to various collective bargaining agreements (CBAs). The decision to increase premium payments allegedly breached the CBAs and Allegheny's fiduciary duty to the plaintiffs and putative class members. Allegheny moved to dismiss the complaint. The district court determined dismissal was appropriate. The continuation of coverage provision in the CBAs provided in part that health insurance coverage would not be terminated or reduced so long as the individual remained retired from Allegheny or received a surviving spouse's benefit, except as Allegheny and the union might otherwise agree. The district court found the language of the clause did not create a vested right to lifetime health insurance at no cost. The district court ruled that under applicable law, there was no breach of contract and that the breach of fiduciary claim was untimely. As the plaintiffs had three chances to assert viable claims, the district court concluded amending the complaint was futile.

Similar Private Companies By Industry

Company Name Region
Mastercraft Mold, Inc. United States
Kryron Global, LLC United States
Prospect Uranium, Inc. United States
Potash Green Utah LLC United States
Magnum Minerals USA Corp. United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
NYC2012, Inc. United States
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Allegheny Ludlum LLC, please visit --. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.