<SEC-DOCUMENT>0001157523-15-004021.txt : 20151210
<SEC-HEADER>0001157523-15-004021.hdr.sgml : 20151210
<ACCEPTANCE-DATETIME>20151210170248
ACCESSION NUMBER:		0001157523-15-004021
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20151210
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20151210
DATE AS OF CHANGE:		20151210

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALLEGHENY TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0001018963
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL PIPE & TUBES [3317]
		IRS NUMBER:				251792394
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12001
		FILM NUMBER:		151281479

	BUSINESS ADDRESS:	
		STREET 1:		1000 SIX PPG PLACE
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15222
		BUSINESS PHONE:		4123942800

	MAIL ADDRESS:	
		STREET 1:		100 SIX PPG PLACE
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15222

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLEGHENY TELEDYNE INC
		DATE OF NAME CHANGE:	19960716
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51241615.htm
<DESCRIPTION>ALLEGHENY TECHNOLOGIES INCORPORATED 8-K
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2015 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 10pt; font-family: Times New Roman">
    <p style="text-align: center">
      <br>
      <br>
      <font style="font-family: Times New Roman; font-size: 11pt"><b>UNITED
      STATES</b></font><b><font style="font-family: Times New Roman; font-size: 11pt"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 11pt">SECURITIES
      AND EXCHANGE COMMISSION</font></b><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt"><b>Washington,
      DC 20549</b></font><br><br><font style="font-family: Times New Roman; font-size: 14pt"><b>FORM
      8-K</b></font><br><br><br><font style="font-family: Times New Roman; font-size: 13pt"><b>CURRENT
      REPORT</b></font><br><font style="font-family: Times New Roman; font-size: 11pt"><b>
      Pursuant to Section 13 or 15(d) of the</b></font><br><font style="font-family: Times New Roman; font-size: 11pt"><b>Securities
      Exchange Act of 1934</b></font><br><br><br>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; width: 40%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">Date
            of Report (Date of earliest event reported):</font>
          </p>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; width: 60%; text-align: center; border-bottom-width: 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">December
            10, 2015</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; text-align: center; border-bottom-width: 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Allegheny Technologies Incorporated
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Exact
            name of registrant as specified in its charter)</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; width: 33%; text-align: center; border-bottom-width: 1.0pt" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Delaware
          </p>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; width: 34%; text-align: center; border-bottom-width: 1.0pt" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1-12001
          </p>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; width: 33%; text-align: center; border-bottom-width: 1.0pt" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            25-1792394
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or other jurisdiction
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            of incorporation)
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 34%; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            File Number)
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (IRS Employer
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; width: 75%; text-align: center; border-bottom-width: 1.0pt" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1000 Six PPG Place, Pittsburgh, Pennsylvania
          </p>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; width: 25%; text-align: center; border-bottom-width: 1.0pt" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            15222-5479
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 75%; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Address
            of principal executive offices)</font>
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 25%; text-align: center" valign="bottom">
          <font style="font-family: Times New Roman; font-size: 10pt">(Zip
          Code)</font>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; width: 45%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">Registrant&#8217;s
            telephone number, including area code</font>
          </p>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; width: 55%; text-align: left; border-bottom-width: 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (412) 394-2800
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center; border-bottom-width: 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            N/A
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Former
            name or former address, if changed since last report).</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>

    </p>
    <p>
      <!--end_optional_former-->
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="white-space: nowrap; margin-left: 60.0px">

    </p>
    <p>
      <b>Item 8.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;Other Events.</b><br>
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt; font-family: Times New Roman; text-align: justify">
      On December 10, 2015, Allegheny Technologies Incorporated (the
      &#8220;Company&#8221;) issued a news release announcing that it is taking certain
      rightsizing actions to align its Flat Rolled Products operations to
      challenging market conditions.&#160;&#160;A copy of the Company&#8217;s news release is
      filed herewith as Exhibit 99.1.
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt; font-family: Times New Roman; text-align: justify">
      On December 10, 2015, the Company also issued a news release announcing
      that its Board of Directors declared a quarterly cash dividend of $0.08
      per share of common stock, which is reduced from $0.18 per share in the
      previous quarter.&#160;&#160;A copy of the Company&#8217;s news release is filed
      herewith as Exhibit 99.2.
    </p>
    <p>
      <b>Item 9.01 &#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits.</b>
    </p>
    <p style="white-space: nowrap">
      (d)&#160;&#160;Exhibits
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="padding-left: 0.0px; width: 12%; text-align: left" valign="top">
          Exhibit 99.1
        </td>
        <td style="padding-left: 0.0px; width: 88%; text-align: left" valign="top">
          Press Release dated December 10, 2015.
        </td>
      </tr>
      <tr>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 12%; text-align: left" valign="top">
          Exhibit 99.2
        </td>
        <td style="padding-left: 0.0px; width: 88%; text-align: left" valign="top">
          Press Release dated December 10, 2015.
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <u><font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURE</b></font></u><br><br>
    </p>
    <p style="text-indent: 30.0px; text-align: justify">
      Pursuant to the requirements of the Securities Exchange Act of 1934, the
      registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.
    </p>
    <p style="text-indent: 30.0px">

    </p>
    <p style="text-indent: 30.0px">
      <br>

    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; margin-left:auto;margin-right:auto">
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            ALLEGHENY TECHNOLOGIES INCORPORATED
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; width: 6%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; width: 39%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; width: 4%; text-align: left" valign="top">
          By:
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; width: 51%; text-align: left; border-bottom-width: 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>/s/ Elliot S. Davis</i>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 51%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Elliot S. Davis
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 51%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Senior Vice President, General Counsel,
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 51%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Chief Compliance Officer and Corporate Secretary
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 51%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 6%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Dated:
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 39%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            December 10, 2015
          </p>
        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 51%">

        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: left">

    </p>
  </body>
</html>
<!--<!DOCTYPE html
     PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"
     "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">-->
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51241615-ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2015 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>ATI
      Announces Rightsizing Actions to Align Flat Rolled Products Operations
      to Challenging Market Conditions</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Focus
        on Products and Markets that Require Technical and Manufacturing
        Leadership</b></font></i>
      </li>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Reduce
        Exposure to Commodity Stainless and Grain-Oriented Electrical Steel
        Products that are Challenged by Global Overcapacity and Reduced Demand</b></font></i>
      </li>
    </ul>
    <p>
      PITTSBURGH--(BUSINESS WIRE)--December 10, 2015--Allegheny Technologies
      Incorporated (NYSE: ATI) today announced that it is taking rightsizing
      actions to align its Flat Rolled Products (FRP) operations to the
      challenging business conditions for its commodity products. The actions
      improve ATI&#8217;s focus on differentiated flat-rolled products that serve
      growing global markets.
    </p>
    <p>
      Specific actions announced today are:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Idling of the standard stainless melt shop and sheet finishing
        operations at the Midland, PA facility, which is expected to be
        completed in January 2016.
      </li>
      <li style="margin-bottom: 10.0px">
        Idling of grain-oriented electrical steel (GOES) operations, including
        the Bagdad, PA facility, which is expected to be completed by April
        2016.
      </li>
    </ul>
    <p>
      The future restart of the Midland and GOES operations, respectively,
      will depend on future business conditions and ATI&#8217;s ability to earn an
      acceptable return on invested capital on products produced at these
      operations.
    </p>
    <p>
      Due to challenging market conditions impacting commodity flat-rolled
      products, ATI is conducting an impairment review of affected long-lived
      assets in the FRP business, including goodwill, and will provide an
      update on this review prior to the January 2016 news release announcing
      fourth quarter 2015 results.
    </p>
    <p>
      &#8220;The actions announced today are the result of an extensive strategic
      review and analysis of the current and expected medium-term market
      conditions affecting our U.S. Flat Rolled Products operations,&#8221; said
      Rich Harshman, Chairman, President and CEO. &#8220;These actions are designed
      to return the FRP segment to profitability as quickly as possible and
      execute our strategy for sustainable long-term profitable growth.
    </p>
    <p>
      &#8220;The actions announced today simplify and streamline our FRP operations
      and better focus our efforts on the products and global markets that
      require and value ATI&#8217;s technical and manufacturing capability
      leadership. The Hot-Rolling and Processing Facility (HRPF) enables ATI
      to grow our high-value product lines, such as nickel-based and specialty
      alloys, titanium and titanium alloys, Precision Rolled Strip&#174; products
      and engineered strip. These differentiated products serve key global
      markets including Aerospace and Defense, Oil &amp; Gas/Chemical and
      Hydrocarbon Processing Industry, Electrical Energy, Consumer
      Electronics, and Automotive.
    </p>
    <p>
      &#8220;Market conditions for our commodity stainless steel products have been
      challenging for an extended period and have continued to deteriorate
      throughout 2015, with further deterioration during the fourth quarter.
      These conditions are the result of global excess capacity, which has led
      to unfairly traded imports in the U.S. market, including the first half
      2015 record surge of low-priced imports, primarily from China.
      Base-selling prices have fallen throughout 2015 and are now at historic
      lows. In addition, falling raw material prices, primarily for nickel,
      has resulted in aggressive inventory reduction actions by customers.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      &#8220;As a result of these market conditions, total transaction prices for
      standard stainless sheet products, which include base prices plus raw
      material surcharges, have declined to levels not seen since 2003. And
      demand for our standard sheet products is showing no signs of
      sustainable improvement as we head into 2016.
    </p>
    <p>
      &#8220;In addition, while showing some signs of improvement, our GOES
      business, which serves the electrical energy distribution market, will
      continue to face increasingly challenging market conditions due to
      global excess capacity and aggressive pricing. An additional challenge
      is the move by most of our customers to high permeability GOES products,
      which would require a significant capital investment by ATI. Market
      conditions for high permeability GOES products do not currently support
      the business case for such an investment.&#8221;
    </p>
    <p>
      Mr. Harshman continued, &#8220;Our High Performance Materials and Components
      segment is well-positioned to achieve significant profitable growth over
      the next several years, beginning in 2016. We are committed to fix our
      flat-rolled products business so it can contribute to ATI&#8217;s
      profitability. With the rightsizing actions announced today, we expect
      our Flat Rolled Products segment to be modestly profitable by the second
      half of 2016. In addition, as we resize our FRP operations we expect
      2016 cash flow from FRP operations to be sufficient to fund its 2016
      capital expenditures, including all remaining capital expenditures
      relating to the HRPF.&#8221;
    </p>
    <p>
      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&#8217;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
      our filings with the Securities and Exchange Commission. We assume no
      duty to update our forward-looking statements.
    </p>
    <p>
      <i><b>Creating Value Thru </b></i><b>Relentless Innovation<i>&#174;</i></b>
    </p>
    <p>
      Allegheny Technologies Incorporated is one of the largest and most
      diversified specialty materials and components producers in the world
      with revenues of approximately $4.0 billion for the twelve months ended
      September 30, 2015. At September 30, 2015, ATI had approximately 9,500
      full-time employees world-wide who use innovative technologies to offer
      global markets a wide range of specialty materials solutions. Our major
      markets are aerospace and defense, oil &amp; gas/chemical and hydrocarbon
      process industry, electrical energy, medical, automotive, food equipment
      and appliance, and construction and mining. The ATI website is <u>www.ATImetals.com</u>.
    </p>
    <p>

    </p>
    <p>
      CONTACT:<br>Allegheny Technologies Incorporated<br>Dan L. Greenfield,
      412-394-3004
    </p>
    <p>

    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>a51241615-ex992.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2015 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.2</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Allegheny
      Technologies Declares Quarterly Dividend</b></font>
    </p>
    <p>
      PITTSBURGH--(BUSINESS WIRE)--December 10, 2015--Allegheny Technologies
      Incorporated (NYSE:ATI) announced today that its Board of Directors
      declared a quarterly cash dividend of $0.08 per share of common stock.
      The dividend is payable on December 30, 2015 to stockholders of record
      at the close of business on December 21, 2015.
    </p>
    <p>
      &#8220;Challenging market conditions continue to impact our Flat Rolled
      Products (FRP) segment standard stainless steel sheet and Grain-Oriented
      Electrical Steel (GOES) products,&#8221; said Rich Harshman, ATI&#8217;s Chairman,
      President and CEO. &#8220;As a result, we are reducing our quarterly cash
      dividend to $0.08 per share from $0.18 per share in the previous quarter.
    </p>
    <p>
      &#8220;As a result of actions we are taking, including cost reductions and
      limiting capital spending, we expect to have a solid liquidity position
      in 2016. We expect our High Performance Materials and Components segment
      to achieve significant profitable growth over the next several years,
      beginning in 2016, largely due to improving demand from the commercial
      aerospace market and cost reduction actions that have already been
      implemented. In addition, as announced earlier today, we are taking
      rightsizing actions to align our Flat Rolled Products operations to the
      current and expected intermediate-term challenging market conditions
      impacting our standard stainless steel sheet and GOES products. These
      actions are designed to return our FRP segment to sustainable
      profitability as soon as the second half of 2016.&#8221;
    </p>
    <p>
      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&#8217;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
      our filings with the Securities and Exchange Commission. We assume no
      duty to update our forward-looking statements.
    </p>
    <p>
      <i><b>Creating Value Thru </b></i><b>Relentless Innovation<i>&#174;</i></b>
    </p>
    <p>
      Allegheny Technologies Incorporated is one of the largest and most
      diversified specialty materials and components producers in the world
      with revenues of approximately $4.0 billion for the twelve months ended
      September 30, 2015. At September 30, 2015, ATI had approximately 9,500
      full-time employees world-wide who use innovative technologies to offer
      global markets a wide range of specialty materials solutions. Our major
      markets are aerospace and defense, oil &amp; gas/chemical and hydrocarbon
      process industry, electrical energy, medical, automotive, food equipment
      and appliance, and construction and mining. The ATI website is <u>www.ATImetals.com</u>.
    </p>
    <p>
      CONTACT:<br>Allegheny Technologies Incorporated<br>Dan Greenfield,
      412-394-3004
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
