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Mon, Apr. 18, 4:42 PM
- Allegheny Technologies (NYSE:ATI) says it plans to lay off one-third of its workforce by eliminating 250-plus positions, and will record a related $9M severance charge in Q1.
- ATI cites significant global overcapacity exists for products such as commodity stainless steel sheet and grain-oriented electrical steel, and says its restructuring actions are necessary to help secure the future of ATI Flat Rolled Products.
- ATI says its actions should generate more than $30M in annualized cost savings beginning in Q3.
Fri, Feb. 26, 11:58 AM
Mon, Feb. 22, 6:45 PM
- Following a lockout that started in August, Allegheny Technologies (ATI +9.1%) says it's come to a tentative deal with the United Steelworkers on a new deal.
- The negotiations involve more than 2,000 employees at the company's flat rolled products business, and other locations. No word yet on a previous sticking point: Whether workers would take on a larger percentage of health insurance premiums.
- The deal's subject to USW ratification, which could take two to three weeks.
- Lockouts affected 12 plants in Pennsylvania and five other states.
- Previously: Allegheny Tech, Steelworkers meet about contract (Feb. 10 2016)
- Previously: Allegheny Tech to take impairment and other charges (Jan. 19 2016)
Wed, Feb. 10, 9:55 AM
- Allegheny Technologies (ATI -0.8%) and the United Steelworkers are meeting in Pittsburgh today to end a lockout of 2,200 workers that began on Aug. 15.
- A key contract issue has been the company's demand that workers begin paying some of their health insurance premiums.
- The lockouts currently affect 12 plants in Pennsylvania and five other states.
- Previously: Hopes for a labor deal? (Dec. 22 2015)
Thu, Feb. 4, 10:57 AM
Tue, Jan. 26, 9:13 AM
- Net loss of $60M, or -$0.56 per share vs. net profit of $19.9M, or $0.18 per share in the same quarter a year ago.
- Sales by segment: High Performance Materials & Components -3.8%; Flat Rolled Products -21%.
- "Our negotiations with the United Steelworkers resumed in late December...we continue to focus on reaching a fair and more competitive labor agreement. In the meantime, we will continue to operate with our salaried employees and temporary workers," CEO Rich Harshman declared.
- ATI -7.8% premarket
- Q4 results
Tue, Jan. 26, 7:41 AM
- Allegheny Technologies (NYSE:ATI): Q4 EPS of -$0.56 misses by $0.08.
- Revenue of $739M (-29.6% Y/Y) misses by $95.64M.
Mon, Jan. 25, 5:30 PM
Tue, Jan. 19, 8:16 AM
Allegheny Technologies, Inc. engages in the manufacture of specialty materials and components for different industries which include aerospace and defense, oil and gas and chemical process, as well as electrical energy. It operates through the following segments: High Performance Materials and... More
Sector: Industrial Goods
Industry: Metal Fabrication
Country: United States
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