PITTSBURGH--(BUSINESS WIRE)--Allegheny Technologies Incorporated (NYSE: ATI) today learned that the A&T Stainless joint venture’s previously filed Section 232 tariff exclusion request has been denied by the U.S. Department of Commerce. The joint venture (JV) imports semi-finished stainless slab products from Indonesia to produce 60-inch wide stainless sheet products for sale in North America. These slabs will continue to be subject to the 25% tariff levied on all stainless steel products imported into the United States.

“While we are disappointed that the U.S. Department of Commerce denied the JV’s Section 232 tariff exclusion request, it does not change our strategy of returning ATI’s Flat Roll Products segment to sustained profitability,” said Robert S. Wetherbee, ATI President and CEO. “Although we believe the unique status of the North American stainless steel industry warranted approval of our exclusion, we are committed to meeting our customers’ needs and delivering value to our shareholders. We will work with our joint venture partner to determine our next steps.”

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ATI is a global manufacturer of technically advanced specialty materials and complex components. ATI revenue was $4.1 billion for the twelve month period ended March 31, 2019. Our largest markets are aerospace & defense, particularly jet engines. We also have a strong presence in the oil & gas, electrical energy, medical, automotive, and other industrial markets. ATI is a market leader in manufacturing differentiated specialty alloys and forgings that require our unique manufacturing and precision machining capabilities and our innovative new product development competence. We are a leader in producing powders for use in next-generation jet engine forgings and 3D-printed aerospace products. See more at our website ATIMetals.com.