US-based Allegheny Technologies Incorporated (ATI) announced to withdraw its production plan from the standard stainless steel sheet products field and would invest in other fields with higher value strategy, such as the field of aerospace and national defense.

President and CEO of ATI mentioned that they were targeting to make more profit by further strengthening the highest value opportunities and cutting low-margin product lines for their business and that was the reason for stopping the production of standard stainless steel plates.

ATI would redeploy the resources to make more effort on aerospace and national defense products in order to expand profit margins and drive returns.

ATI decided to leave the production of standard stainless steel sheet products in mid-2021. In 2019, the margin rate of this product line was less than 1% of the US$445 million in revenues.