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Stock impact report

ATI Realigns Business Portfolio To Accelerate Profitable Growth

ATI Inc. (ATI) 
Last ati inc. earnings: 2/4 07:30 am Check Earnings Report
US:NYSE Investor Relations: ir.atimetals.com
Company Research Source: Business Wire
Leveraging Assets and Expertise to Further Penetrate Core Markets PITTSBURGH--(BUSINESS WIRE)--Allegheny Technologies Incorporated (NYSE: ATI) today announced a realignment of its business segments to further enhance its position as a leading specialty materials manufacturer and to accelerate sustainable long-term profitable growth. Starting with first quarter 2020 financial results, ATI will report in two business segments: a streamlined High Performance Materials & Components (HPMC) segment and the new Advanced Alloys & Solutions (AA&S) segment. As a result of this business realignment, the Company expects total annualized operational and commercial synergies of approximately $7 million by year-end 2021 and $15 million by year-end 2022.Additionally, the Company today announced the next step in its proactive cost reduction efforts, building on the previously announced restructuring program, with a voluntary retirement incentive program for eligible salaried employees. In addition Show less Read more
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