ATI inks agreement with Pratt & Whitney

Allegheny Technologies Incorporated (NYSE: ATI) has signed a new Long-Term Purchase Agreement (LTPA) with Pratt & Whitney (P&W), a United Technologies Corporation (UTC) company, to supply isothermal forgings and nickel-based powder alloys for next-generation jet engines, the company said.

The LTPA, which builds upon the Master Terms Agreement that ATI entered into with UTC last year, begins in 2017 and continues for the life of the engine programs. For the period 2017 to 2030, the LTPA is expected to generate revenues in excess of USD 1 billion.

Pratt & Whitney, a division of United Technologies Corporation, is a world provider of the design, manufacture and service of aircraft engines and auxiliary power units. United Technologies Corp. based in Farmington, Connecticut, provides high-technology systems and services to the building and aerospace industries.