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Allegheny Technologies gets GE contract


Published : Mon, 22 Jan 2007 18:02
By : Agencies
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PITTSBURGH (AFX) - Allegheny Technologies Inc., which makes specialty metals for use in a broad range of industries, said Monday it signed a long-term sourcing agreement with General Electric Co.'s GE Aviation unit potentially worth more than $2 billion.

Allegheny Technologies said that under the 5-year agreement, it will supply titanium, nickel-based superalloy, and vacuum-melted specialty alloy products for commercial and military jet engine applications.

Shares of Allegheny Technologies rose $1.68 to $93.24, while GE shares fell 23 cents to $36.72, both in morning trading on the New York Stock Exchange.

Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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