PITTSBURGH--(BUSINESS WIRE)--RTI International Metals, Inc. (NYSE:RTI) announced today that it has been selected to provide finished titanium structural parts by Airbus for its new A350-1000 aircraft program.
The award from Airbus – which represents its first procurement of RTI parts manufactured entirely by RTI’s vertically integrated supply chain – calls for RTI to supply two final-machined structural titanium fuselage parts for the Airbus A350-1000 aircraft model.
Under the award, work to be performed by RTI includes providing titanium mill products, as well as extruding, forming, final machining and managing external suppliers. A portion of the extrusion, forming and machining will be performed by business units acquired by RTI over the last three years, as part of the implementation and build-out of RTIs vertically integrated supply chain. These facilities include RTI Advanced Forming, Ltd. and RTI Extrusions Europe, Ltd., both located in The United Kingdom.
“This 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’s vertically integrated supply chain, as well as our ability to build the strategic partnerships that are critical to successfully competing in today’s commercial aerospace industry,” noted Ms. Hickton.
RTI Forward-Looking Statement
All statements in this release relating to matters that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected, anticipated or implied. These risks and uncertainties include, but are not limited to, the impact of global events on the commercial aerospace industry, actual build-rates, production schedules and content per aircraft for commercial and military aerospace programs, the competitive nature of the markets for specialty metals, the ability of RTI to obtain adequate raw materials, global economic conditions, the successful completion of RTI’s capital expansion projects, and other risks and uncertainties described and included in RTI’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2015, and the exhibits attached to those filings. Actual results can differ materially from those forecasted or expected. The information contained in this release is qualified by and should be read in conjunction with the statements and notes filed with the Securities and Exchange Commission on Forms 10-K and 10-Q, as may be amended from time to time. The forward-looking statements in this document are intended to be subject to the safe harbor protection provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. RTI undertakes no obligation to update or revise any forward-looking statements.
RTI International Company Description
RTI International Metals, Inc. is a leading vertically integrated global supplier of advanced titanium and specialty metals products and services to commercial aerospace, defense, energy, medical device and other customers across the entire supply chain. For over 60 years, RTI has been taking titanium further through advanced manufacturing and engineering processes. RTI delivers a full range of titanium mill products as well as other titanium and specialty metals products and services including extruded shapes, formed and 3D-printed parts, and precision engineered and machined components through its downstream integrated supply chain. Headquartered in Pittsburgh, Pa., RTI has locations in the United States, Canada, Europe, and Asia. To learn more about RTI International Metals, Inc., visit www.rtiintl.com.