RTI Lands Airbus Contract Week Before Merger Vote
PITTSBURGH – RTI International Metals Inc. announced this morning that it has secured a contract to provide finished titanium structural parts for Airbus’ new A350-100 aircraft.
The new contract comes as shareholders prepare to vote July 21 on the company’s prospective merger with Alcoa Inc. in a stock-for-stock transaction valued at $1.5 billion (READ STORY).
RTI is contracted to produce two final-machined structural titanium fuselage parts for the Airbus A350-1000 aircraft model.
Under the new Airbus contract, RTI will provide titanium mill products, and perform extrusion, forming, machining, and external supply management. A portion of the extrusion, forming and machining services will be performed by business units acquired over the last three years as part of RTI’s vertically integrated supply chain.
These plants include RTI Advanced Forming Ltd. and RTI Extrusions Europe Ltd., both located in the United Kingdom. RTI operates titanium melting, forging and hot-roll mills in Canton and Niles, where the company was formerly headquartered.
“The award is representative of the vertically integrated, value- added business opportunities available to RTI as a direct result of our commitment to the execution of our strategy to extend RTI’s reach downstream, where we believe a majority of the incremental commercial aerospace industry growth opportunities lie,” said Dawne S. Hickton, vice chair, president and CEO of RTI.
“In addition, our selection for this work further confirms the credibility and breadth of capability of RTI vertically integrated supply chain, as well as our ability to build strategic partners that are critical to successfully competing in today’s commercial aerospace industry.”
Pictured: RTI’s titanium mill in Niles, Ohio.
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