JSW Steel, an integrated steel manufacturer, on May 4 announced that its subsidiary JSW Steel USA Ohio Inc, has signed a long-term agreement with Allegheny Technologies Inc. (NYSE: ATI) for the conversion of carbon steel slabs manufactured at JSW Steel USA's facility in Mingo Junction, OH into hot rolled coils at ATI's Hot Rolling and Processing Facility (HRPF) in Brackenridge, PA.

As per the terms of the agreement, ATI is expected to hot-roll a significant percentage of carbon steel slabs produced by JSW Steel USA.The agreement expands JSW Steel USA's ability to supply high quality hot rolled products required by its customers in the U.S thus enhancing its product portfolio.

Securing access to ATI's HRPF - one of the world’s most powerful hot-rolling mills - enables JSW Steel USA to produce materials that maintain high-strength at high temperatures.

At the same time, ATI increases its capacity utilization of its highly automated HRPF in a capital-efficient manner that provides a reliable source of operating cash flow.

Commenting on the company’s agreement with ATI, Parth Jindal, Director of JSW USA said, "JSW USA has been on a path of modernization for the last 24 months, from our plate mill in Baytown, TX to our EAF in Mingo Junction, OH our idea has been to provide the best in class "melted & manufactured" products (Slabs, HRC, Plate & Pipe) to our valued customers in the USA."

"Our agreement with ATI is further testimony to our vision of being a premium supplier of steel products in the market. Leveraging on ATI’s superior capabilities we feel our carbon steel slabs have a great home. The geographical proximity and strategic nature of this long term partnership is truly a win - win for both organisations as well as a win for the broader market. I would like to thank the ATI team for their trust and confidence in JSW USA and am very excited to bring back steelmaking to the Mingo Junction area," Jindal added.

Shares of the company gained Rs 4.2, or 0.58%, to trade at  Rs 727.45.  The total volume of shares traded  was  305,496 at the BSE (11.23 a.m., Tuesday).