Allegheny Technologies Inc. on Tuesday reported a loss of $16.4 million in the second quarter, as the manufacturer continues to bargain a new contract with the United Steelworkers union.
Pittsburgh-based ATI last week warned that it could report a loss of $16 million to $18 million in the quarter. The company, which has a plant in Lockport, makes specialty metals and components.
“This was a challenging quarter due to business conditions in the flat rolled products segment and further weakening in demand from the oil and gas market in the high performance materials and components segment,” said Rich Harshman, chairman, president and CEO, in a statement.
The Steelworkers union represents more than 2,200 workers at 12 sites, including 44 workers at the Lockport plant. The union’s contract with the company expired June 30.
“ATI remains committed to negotiate new agreements with the (Steelworkers) that are fair, competitive, and consistent with our goal of continually improving the competitive cost position of our businesses,” Harshman said.
The union plans a rally and march to ATI’s Pittsburgh headquarters on July 30.