UNITI LLC, an industrial titanium venture jointly owned by Allegheny Technologies Incorporated (NYSE: ATI) and Verkhnaya Salda Metallurgical Production Association (VSMPO), today announced that it has been chosen to supply a significant portion of the commercially pure (CP) titanium to be used in the world’s largest seawater desalination plant.
UNITI expects to supply between 5.5 million and 6.0 million pounds of CP titanium strip that will be used to produce titanium tubing for the project. This is the largest order in UNITI’s history. Shipments are planned to be spread evenly throughout 2011.
UNITI’s customer, Doosan Heavy Industries & Construction of Korea, was selected by the Saline Water Conversion Corporation (SWCC) for a seawater desalination project to be built in Ras Az Zawr, Saudi Arabia. The plant’s daily potable water output will be the largest in the world, sufficient to meet the needs of 3.5 million people.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which we are unable to predict or control, that may cause our actual results, performance or achievements to materially differ from those expressed or implied in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in Allegheny Technologies' filings with the Securities and Exchange Commission. We assume no duty to update our forward-looking statements.
Allegheny Technologies Incorporated is one of the largest and most diversified specialty metals producers in the world with revenues of $3.8 billion for the twelve months ending September 30, 2010. ATI has approximately 8,900 full-time employees world-wide who use innovative technologies to offer global markets a wide range of specialty metals solutions. Our major markets are aerospace and defense, oil and gas/chemical process industry, electrical energy, medical, automotive, food equipment and appliance, machine and cutting tools, and construction and mining. Our products include titanium and titanium alloys, nickel-based alloys and superalloys, grain-oriented electrical steel, stainless and specialty steels, zirconium, hafnium, and niobium, tungsten materials, and forgings and castings. The Allegheny Technologies website is www.ATImetals.com.
AI
