This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Production Begins At RTI’s New Virginia Titanium Plant

RTI International Metals, Inc. (NYSE:RTI) celebrated today the first production of certified commercial aerospace titanium product at its new, $135 million forging, grinding and hot rolling manufacturing facility in Martinsville, VA. In addition to RTI executives, key executives of Airbus, which will use much of the factory’s titanium output to produce the company’s passenger jets, and Virginia Governor Bob McDonnell attended a ceremony to mark this milestone in the plant’s operations.

The startup of commercial titanium production at Martinsville follows more than 10 months of certification testing to meet Airbus’s stringent initial qualification requirements. It is an important milestone for RTI and represents continued strengthening of the business connection between RTI and Airbus, one of the world’s largest commercial aircraft manufacturers.

CEO Comment

“The Martinsville plant is a key new addition to RTI’s ability to meet the expanding titanium needs of Airbus. RTI is the largest North American titanium supplier to Airbus and its parent company, EADS, and this new facility adds an additional link in RTI’s ability to meet their needs across the entire supply chain,” said Dawne Hickton, Vice Chair, President and CEO of RTI.

EADS and Airbus Comment

“EADS, Airbus and RTI’s long-term partnership was expanded with the construction of the Martinsville facility. This new plant offers us greater material support due to RTI’s increased capacity to produce titanium raw material not only for our A350 XWB aircraft, but to an extended number of EADS and Airbus supply chain partners,” said Eric Zanin, Material Procurement Senior Vice President for EADS and Airbus.

Virginia Governor Comment

“We are grateful for our partnership with RTI and Airbus, and RTI’s commitment to the economic development of the Martinsville community,” said Governor McDonnell. “RTI’s $135 million new facility and the employment of more than 25 residents from the community is a true testament of a successful partnership between the private and public sector.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs