RTI International Metals, Inc. (NYSE: RTI), today announced that it has entered into long-term titanium mill product supply agreements with three United Technologies Corporation (UTC) (NYSE: UTX) business units.
Under the agreements with UTC Aerospace Systems, Pratt & Whitney Canada and Sikorsky, RTI will be a major direct supplier of titanium sheet products used primarily in the manufacture of engine nacelle components, rotor-quality billet and a range of titanium mill products for various rotary-wing platforms. The material RTI will supply includes mill product categories previously sold to third-party fabricators under agreements expiring at the end of 2013.
“We’re pleased to announce the extension and enhancement of our strong relationships across the United Technologies family of businesses,” said Dawne S. Hickton, Vice Chair, President and CEO of RTI. “Combined with the new agreement for Pratt & Whitney to be our EB Furnace launch customer, we look forward to continuing as a reliable, trusted, and high-quality supply partner in meeting United Technologies’ varied titanium product needs.”
RTI Forward-Looking StatementAll 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, global economic and political uncertainties, the concentration of our revenue within the commercial aerospace and defense industries, actual build-rates, production schedules and titanium content per aircraft for commercial and military aerospace programs, the successful completion and integration of completed acquisitions, military spending generally and in particular, demand for the Joint Strike Fighter program, the impact from Boeing 787 production delays, 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, 2012, 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.