PITTSBURGH--(BUSINESS WIRE)--Allegheny Technologies Incorporated (NYSE: ATI) and Bruker Energy & Supercon Technologies (BEST), a wholly owned subsidiary of Bruker Corporation, today announced that they have entered into a joint technology development agreement to advance state-of-the-art niobium-based superconductors, including those used in magnetic resonance imaging (MRI) magnets for the medical industry, and preclinical MRI magnets used in the life-science tools industry.
Built on a 30-year collaboration between the two companies, this agreement further extends their tremendous combined expertise to develop higher-performance niobium-based alloys and apply these alloys in improved and more efficient superconductors, which are expected to enable MRI magnets with higher performance and lower total cost of ownership. The resulting products are expected to have applications in medical imaging, scientific instrumentation, particle physics research, and large-scale fusion experiments to produce energy. The advanced manufacturing and metrology processes, as well as the highly differentiated new superconductors planned under this agreement will deliver higher performance, ultimately aiming to give healthcare providers better diagnostics to improve lives. At the same time, the fully integrated supply chain will allow for process innovation to even further increase efficiency, quality and supply chain security for demanding customers.
Bruker Energy & Supercon Technologies is a leading manufacturer of highest performance superconducting wire products with a product portfolio that includes high-quality niobium-based superconductors. With more than 50 years of experience in the field of superconducting wire, BEST offers a unique and broad superconductor technology spectrum, a highly automated superconductor factory with the most advanced and integrated metrology capabilities to ensure highest conductor yield, quality and on-time deliveries. BEST has invested heavily in these unique capabilities over the last decade in order to meet a wide range of requirements for healthcare, industrial and research applications.
“This long-term agreement further strengthens the extensive cooperation between ATI and Bruker,” commented Dr. Burkhard Prause, President of BEST. “We believe this collaboration will further advance the combined expertise within our businesses to create new and improved superconductor products and deliver enhanced commercial value for our healthcare and life science customers.”
ATI, a global leader in refractory metal production and manufacturer of specialty alloys, materials, and components, brings more than 50 years of experience as a leading manufacturer of niobium-titanium and other specialty alloys for medical and high-energy physics applications. “ATI has long led the industry with its technical expertise and differentiated manufacturing capability for niobium-based alloys for superconductors,” said Lee Weber, President of ATI Specialty Alloys and Components. “This new agreement expands our collaboration, so we may create the specialty materials that will propel the industry. The Relentless Innovation™ for which ATI is known is truly saving lives and improving the future for generations to come.”
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Certain statements in this news release relate to future events and expectations and, as such, constitute forward-looking statements. Forward-looking statements, which may contain such words as “anticipates,” “believes,” “estimates,” “expects,” “would,” “should,” “will,” “will likely result,” “forecast,” “outlook,” “projects,” and similar expressions, 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. Our performance or achievements may differ materially from those expressed or implied in any forward-looking statements due to the following factors, among others: (a) material adverse changes in economic or industry conditions generally, including global supply and demand conditions and prices for our specialty metals; (b) material adverse changes in the markets we serve; (c) our inability to achieve the level of cost savings, productivity improvements, synergies, growth or other benefits anticipated by management from strategic investments and the integration of acquired businesses; (d) volatility in the price and availability of the raw materials that are critical to the manufacture of our products; (e) declines in the value of our defined benefit pension plan assets or unfavorable changes in laws or regulations that govern pension plan funding; (f) labor disputes or work stoppages; (g) equipment outages and (h) other risk factors summarized in our Annual Report on Form 10-K for the year ended December 31, 2017, and in other reports filed with the Securities and Exchange Commission. We assume no duty to update our forward-looking statements.
About Bruker Corporation
Bruker is enabling scientists to make breakthrough discoveries and develop new applications that improve the quality of human life. Bruker’s high-performance scientific instruments and high-value analytical and diagnostic solutions enable scientists to explore life and materials at molecular, cellular and microscopic levels. In close cooperation with our customers, Bruker is enabling innovation, improved productivity and customer success in life science molecular research, in applied and pharma applications, in microscopy and nanoanalysis, and in industrial applications, as well as in cell biology, preclinical imaging, clinical phenomics and proteomics research and clinical microbiology. For more information, please visit: www.bruker.com.
Creating Value Thru Relentless Innovation™
ATI is a global manufacturer of technically advanced specialty materials and complex components. ATI revenue was $3.9 billion for the twelve-month period ended September 30, 2018. 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.