Allegheny Technologies Incorporated (NYSE:ATI) Files An 8-K Other Events

Allegheny Technologies Incorporated (NYSE:ATI) Files An 8-K Other Events
Item 8.01. Other Events.

On July 18, 2019, Allegheny Technologies Incorporated (the “Company”) announced it has completed the sale of a portion of its oil and gas rights in Eddy County, New Mexico and has reached an agreement to sell the remaining portion of these rights, both to the same undisclosed buyer. The completed second quarter 2019 sale and the pending sale of the Company’s remaining rights, which is anticipated to close in third quarter 2019, are expected to generate over $90 million in pretax income and cash for ATI in the aggregate.
The text of the Company’s Press Release is included as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01. Exhibit
(d) Exhibit 99.1 Press release dated July 18, 2019.
EX-99.1 2 a52013986ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 ATI Monetizes Oil and Gas Rights in New Mexico Sales Increase Available Cash to Fund Balance Sheet Improvement Initiatives PITTSBURGH–(BUSINESS WIRE)–July 16,…
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About Allegheny Technologies Incorporated (NYSE:ATI)

Allegheny Technologies Incorporated (ATI) is a specialty materials and components producer. The Company operates through two business segments: High Performance Materials & Components and Flat Rolled Products. ATI’s products include titanium and titanium alloys, nickel-based alloys and specialty steels, precision forgings, castings and machined components, zirconium and related alloys, precision and engineered stainless steel strip, and grain-oriented electrical steel. Its standard products include specialty stainless sheet and stainless steel plate. It is engaged in the production of titanium alloys, nickel-based and cobalt-based alloys and superalloys, and vacuum-melted specialty alloys used in the manufacture of components for both commercial and military jet engines, as well as replacement parts for those engines. It also produces titanium alloys, vacuum-melted specialty alloys and stainless alloys for use in commercial and military airframes, airframe components and missiles.

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