<SEC-DOCUMENT>0001157523-17-002965.txt : 20171102
<SEC-HEADER>0001157523-17-002965.hdr.sgml : 20171102
<ACCEPTANCE-DATETIME>20171102071230
ACCESSION NUMBER:		0001157523-17-002965
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20171102
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171102
DATE AS OF CHANGE:		20171102

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:		171170703

	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>a51709493.htm
<DESCRIPTION>ALLEGHENY TECHNOLOGIES INC. 8-K
<TEXT>
<html>
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    <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="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt">
      <tr>
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          <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 valign="top" style="padding-left: 0.0px; border-bottom-color: black; width: 60%; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">November
            2, 2017</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Allegheny Technologies Incorporated
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center">
          <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="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom-color: black; width: 33%; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Delaware
          </p>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; width: 34%; padding-right: 0.0px; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1-12001
          </p>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; width: 33%; padding-right: 0.0px; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt">
          <p style="margin-bottom: 0px; margin-top: 0px">
            25-1792394
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; width: 33%; text-align: center">
          <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 valign="bottom" style="padding-left: 0.0px; width: 34%; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            File Number)
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; width: 33%; text-align: center">
          <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="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom-color: black; width: 75%; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1000 Six PPG Place, Pittsburgh, Pennsylvania
          </p>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; width: 25%; padding-right: 0.0px; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt">
          <p style="margin-bottom: 0px; margin-top: 0px">
            15222-5479
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; width: 75%; text-align: center">
          <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 valign="bottom" style="padding-left: 0.0px; width: 25%; text-align: center">
          <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="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td valign="top" style="padding-left: 0.0px; width: 45%; padding-bottom: 2.0px; text-align: left">
          <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 valign="top" style="white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; width: 55%; padding-right: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt">
          <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="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td valign="top" style="white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; padding-right: 0.0px; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt">
          <p style="margin-bottom: 0px; margin-top: 0px">
            N/A
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center">
          <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>
    <p>
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (17 CFR
      &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR
      &#167;240.12b-2).
    </p>
    <p style="white-space: nowrap">
      Emerging growth company&#160;&#160;&#9744;
    </p>
    <p>
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act.&#160;&#160;&#9744;
    </p>
    <div style="margin-bottom: 10pt; margin-left: 0pt; text-indent: 0pt; width: 100%; margin-right: 0pt">
      <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="color: black; height: 1.5pt">

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

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

    </p>
    <p>
      <b>Item 8.01. &#160;&#160;&#160;&#160;Other Events.</b>
    </p>
    <p style="text-indent: 30.0px; font-family: Times New Roman; font-size: 10pt">
      On November 2, 2017, Allegheny Technologies Incorporated (NYSE: ATI)
      issued a press release (the &#8220;Press Release&#8221;) announcing that it has
      reached a definitive agreement to form a joint venture (the &#8220;JV&#8221;) with
      an affiliate of Tsingshan Group for the manufacture and sale of 60
      inch-wide commodity stainless sheet in North America.&#160;&#160;Formation of the
      JV is subject to customary regulatory and anti-trust clearances.&#160;&#160;The
      Press Release is attached as Exhibit 99.1 to this Form 8-K and is
      incorporated herein by reference.
    </p>
    <p style="white-space: nowrap; text-align: justify">
      <b>Item 9.01.&#160;&#160;&#160;&#160;&#160;Exhibit</b>
    </p>
    <p style="white-space: nowrap; text-align: justify">
      (d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<a href="a51709493ex99_1.htm">Exhibit
      99.1</a> &#160;&#160;&#160;&#160;&#160;&#160;<a href="a51709493ex99_1.htm">Press
      release dated November 2, 2017.</a>
    </p>
    <p style="white-space: nowrap; text-align: justify">

    </p>
    <div style="margin-bottom: 10pt; margin-left: 0pt; text-indent: 0pt; width: 100%; margin-right: 0pt">
      <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="color: black; height: 1.5pt">

        </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="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; margin-left:auto;margin-right:auto; font-size: 10pt">
      <tr>
        <td style="width: 6%">

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

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

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

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

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 51%; text-align: left">
          <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 valign="top" style="padding-left: 0.0px; width: 51%; text-align: left">
          <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 valign="top" style="padding-left: 0.0px; width: 51%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Chief Compliance Officer and 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 valign="top" style="padding-left: 0.0px; width: 6%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Dated:
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 39%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            November 2, 2017
          </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>
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     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>a51709493ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2017 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 and
      Tsingshan to Form Innovative Stainless Steel Joint Venture</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Two
        Global Innovators to Form Joint Venture</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Tsingshan&#8217;s
        Vertical Integration Provides Reduced Raw Materials Cost Volatility</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Conversion
        Agreement Expected to Significantly Increase ATI&#8217;s HRPF Utilization</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>JV&#8217;s
        DRAP Finishing Facility to Restart; Adds 100 Jobs</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>JV
        Provides a Highly Competitive and Uniquely Differentiated Offering</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Another
        Action to Position ATI&#8217;s FRP Business for Sustainable Profitability</b></font>
      </li>
    </ul>
    <p>
      PITTSBURGH--(BUSINESS WIRE)--November 2, 2017--Allegheny Technologies
      Incorporated (NYSE: ATI) today announced that it has reached a
      definitive agreement to form an innovative 50-50 joint venture (JV) with
      an affiliate company of Tsingshan Group (Tsingshan). Tsingshan is
      vertically integrated and is the world&#8217;s largest stainless steel
      producer. Formation of the JV is subject to customary regulatory and
      anti-trust clearances, which are expected by the first quarter 2018. The
      JV will manufacture and sell 60 inch-wide stainless sheet in North
      America. First shipments are expected in early 2018.
    </p>
    <p>
      &#8220;As we have stated over the last two years, our strategy is to first
      return our Flat Rolled Products (FRP) business to profitability, and
      then position our FRP segment for sustainable profitability regardless
      of raw materials costs or trade policy,&#8221; said Rich Harshman, ATI&#8217;s
      Chairman, President and Chief Executive Officer. &#8220;We believe this
      innovative joint venture combined with the strategic actions and cost
      reduction initiatives taken over the last several years lays the
      foundation to achieve this objective.
    </p>
    <p>
      &#8220;This joint venture benefits ATI and Tsingshan as well as our customers
      in the North American stainless market. Tsingshan&#8217;s capabilities to
      produce stainless steel slabs using its unparalleled vertically
      integrated mining, refining, and casting assets combined with ATI&#8217;s
      innovative, low-cost Hot Rolling and Processing Facility (HRPF), and the
      JV&#8217;s unique Direct Roll Anneal and Pickle (DRAP) facility creates a cost
      competitive supplier of stainless sheet products for the North American
      market.
    </p>
    <p>
      &#8220;For ATI, the conversion agreement volume will significantly increase
      the utilization of our HRPF and will utilize the previously idled DRAP
      finishing facility in Midland, PA, which will be owned and operated by
      the joint venture.&#8221;
    </p>
    <div style="margin-bottom: 10pt; margin-left: 0pt; text-indent: 0pt; width: 100%; margin-right: 0pt">
      <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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
    <p>
      Key points of the joint venture:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Allegheny &amp; Tsingshan Stainless is the joint venture company&#8217;s name.
      </li>
      <li style="margin-bottom: 10.0px">
        Tsingshan&#8217;s operation in Indonesia is vertically integrated from
        mining raw materials, including ferronickel and ferrochrome, through
        refining and casting. Tsingshan will supply the JV with redi-to-roll
        slabs with reduced raw material cost volatility.
      </li>
      <li style="margin-bottom: 10.0px">
        The Tsingshan-supplied stainless slabs will be hot-rolled into coils
        on ATI&#8217;s HRPF under a conversion agreement between ATI FRP and the JV.
        The HRPF provides customers with the market&#8217;s most consistent quality
        and edge-to-edge, tip-to-tail gauge control.
      </li>
      <li style="margin-bottom: 10.0px">
        The hot-rolled coils will be finished into stainless sheet using the
        JV&#8217;s DRAP line, which is ATI&#8217;s major investment in the joint venture.
        The Midland operations&#8217; assets were impaired in 2015 and the DRAP
        finishing line was idled in early 2016.
      </li>
      <li style="margin-bottom: 10.0px">
        The JV is expected to add approximately 100 manufacturing jobs in
        Western PA.
      </li>
    </ul>
    <p>
      &#8220;Tsingshan has built the world&#8217;s newest and most innovative stainless
      production facilities,&#8221; Harshman continued. &#8220;Our HRPF provides
      unsurpassed coil quality and is a modern, low-cost facility. The JV&#8217;s
      DRAP line is an efficient continuous automated facility. It is the only
      one of its kind in North America that completes the finishing process in
      minutes rather than the weeks required by the conventional finishing
      path.
    </p>
    <p>
      &#8220;As one global supply chain, the joint venture will provide a highly
      competitive and uniquely differentiated offering.&#8221;
    </p>
    <p>
      The JV will be treated as a 50-50 equity investment. The partners will
      share in JV operating profit and in the cash flow generated by the JV.
      Sales of the joint venture will not be consolidated into ATI sales.
      ATI&#8217;s FRP segment will benefit from the conversion services provided by
      the HRPF to the JV, increased utilization of the HRPF, and ATI FRP&#8217;s
      share of JV profits.
    </p>
    <p>
      Aerospace &amp; Defense, which is approximately 50% of sales, will continue
      to be ATI&#8217;s largest market. ATI&#8217;s consolidated sales of standard
      stainless sheet are expected to remain at 10% or lower as a percentage
      of total ATI sales.
    </p>
    <p>
      ATI will provide live Internet listening access to its conference call
      with investors and analysts scheduled for Thursday, November 2, 2017 at
      8:30am ET. The conference call will be broadcast, and accompanying
      presentation slides will be available, at ATImetals.com. To access the
      broadcast, go to the home page and select &#8220;Conference Call.&#8221; Replay of
      the conference call will be available on the ATI website.
    </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'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>
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    </div>
    <p>
      <i><b>Creating Value Thru Relentless Innovation&#8482;</b></i>
    </p>
    <p>
      ATI is a global manufacturer of technically advanced specialty materials
      and complex components. Our largest market is aerospace &amp; defense,
      representing approximately 50% of total sales and led by jet engines.
      Additionally, we have a strong presence in the oil &amp; gas, electrical
      energy, medical, and automotive markets. In aggregate, these key markets
      represent about 80% of our revenue. ATI is a market leader in
      manufacturing differentiated products that require our unique
      manufacturing and precision machining capabilities as well as our
      innovative new product development competence. Our capabilities range
      from alloy development through final production of highly engineered
      finished components. We are a leader in producing powders for use in
      next-generation jet engine forgings and 3D-printed aerospace products.
    </p>
    <p>
      Tsingshan Group, founded in 1998, is a multi-national fully integrated
      stainless steel producer engaged in nickel ore mining, ferronickel and
      ferrochrome smelting, stainless steel making, hot rolling, and cold
      rolling with captive supportive power plants and ports. Tsingshan
      produces stainless sheet, plate, bar, rod, wire, pipe, and tube.
      Tsingshan Group, along with other partners, have been investing
      significantly in Indonesia and India. Tsingshan Group, as the global
      leader in the production of crude stainless steel, produced 5.5 million
      tons of crude stainless steel in 2016. Tsingshan Group continues in
      persistent pursuit the of the company culture of &#8220;Dare to be the First,
      Incorruptible and Dedicated.&#8221;
    </p>
    <p>
      Yongqing Limited Liability Company (Yongqing) is the Tsingshan Group
      affiliated company mentioned in the first paragraph of this news release.
    </p>
    <p>
      CONTACT:<br>Allegheny Technologies Incorporated<br>Dan L. Greenfield,
      412-394-3004<br>
    </p>
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