Allegheny Technologies Inc. announced on Tuesday a $1 billion agreement with jet engine manufacturer Pratt & Whitney that includes parts for Pratt & Whitney’s next-generation engines.
The long-term purchase agreement stretches between 2017 and 2030 and includes what ATI (NYSE: ATI) called isothermal forgings and nickel-based powder alloys in Pratt & Whitney’s PurePower Geared Turbofan engine for commercial airliners and the F135 engine for the Joint Strike Fighter.
“We believe this LTPA recognizes…