Allegheny Technologies (NYSE:ATI) looks set to remain a partner of aerospace giant Boeing (NYSE:BA) for some time to come. The former company announced it has extended its existing long-term titanium mill products supply agreement with the aircraft maker. Additionally, that arrangement has been expanded to, in Allegheny Tech's words, "[provide] opportunity for greater use of ATI's next-generation and advanced titanium alloys in both long product and flat-rolled product forms."
The terms of the agreement, and the time frame, were not specified, although Allegheny Tech intimated that it will be in force for at least another several years. In the press release announcing the news, the firm quoted its CEO Rich Harshman as saying that the deal makes Allegheny Tech "well-positioned to participate in Boeing's significant growth into the next decade."
Allegheny Tech is scheduled to discuss its Q3 earnings in a conference call next Wednesday at 8:30 am Eastern time.
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