ATI to withdraw from stainless steel business
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Update time : 2020-12-04 19:54:17
Allegheny Technologies Incorporated (ATI), a US-based maker of specialty metals and stainless steel, will no longer be involved in the stainless steel business.
The process of exiting the stainless steel market will involve halting production and consolidating finishing operations at five plants, resulting in a reduction of US$445 million in low-margin production and a shift to aerospace and defense products.
The process will be completed by mid-2021.
In 2019, ATI's stainless steel margins were less than 1%, while its advanced alloys and solutions were close to 15%.
