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RTI Announces 7-Year Agreement With Bombardier* To Supply Precision Machined Components And Assemblies

Stocks in this article: RTI

RTI International Metals, Inc. (NYSE: RTI), today announced its wholly owned subsidiary RTI Claro, Inc., earlier this year entered into a long-term contract with Bombardier Aerospace (Bombardier) (TSE: BBD) to supply precision machined components and assemblies for several Bombardier* aircraft models. This agreement, which replaces a recently expired supply arrangement, runs through 2019 and calls for RTI to manufacture components and assemblies not previously provided by RTI.

With this new agreement, RTI Claro expands its presence across Bombardier’s product line to include new platforms such as the CSeries* family of commercial airliners, as well as the Learjet 85* and Global 7000* and Global 8000* business aircraft. RTI Claro will continue to contribute to the CRJ* Series regional jets, as well as to the Challenger* and Global* business jets. In addition, RTI Claro is enhancing its breadth of product and solution offerings to Bombardier to now include the provision of larger aluminum components. RTI expects to begin delivering these additional component and assembly solutions as its new manufacturing equipment investments come online this year.

“The combination of this new, enhanced, long-term supply agreement, and our investment in additional machining capabilities at our RTI Claro facility, demonstrate our growth as a trusted and strategic Bombardier supplier,” said Dawne S. Hickton, Vice Chair, President and CEO of RTI. “The nature of the new component and assembly solutions to be provided under this agreement will require RTI to work with Bombardier as a more integrated part of their supply chain. This is aligned with our growth strategy to become a provider of product solutions across all stages of the aerospace supply chain.”

RTI Claro has been a high-performing and trusted supplier to Bombardier for over 25 years. The company’s performance excellence is exemplified by its achievement of a 4-STAR supplier rating and its success in becoming the first supplier to reach the MACH 4 level under Bombardier’s sponsorship of the Aero Montréal MACH supplier recognition initiative.

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