RTI International Metals, Inc. (NYSE:RTI) announced today it has acquired Directed Manufacturing, Inc., a leader in Additive Manufacturing of metals and plastics for both commercial production and engineering development applications, for $23 million in cash. The transaction is expected to enhance RTI’s ability to deliver advanced, cost-effective titanium and other advanced material solutions to customers in aerospace, medical device and other markets.
Based in Austin, TX, Directed Manufacturing, which will do business as RTI Directed Manufacturing, Inc., becomes the flagship organization in RTI’s Advanced Additive product line. It produces complex products using titanium, nickel-chromium alloys and other specialty metals and composite plastics. The specific Additive Manufacturing or “3D Printing” technologies used by the company include Direct Metal Laser Sintering and Plastic Laser Sintering systems.
Directed Manufacturing currently manufactures products that include aerospace airfoils, rakes, guide vanes and injection nozzles, complex fasteners, surgical tools, medical implants, injection mold inserts and many others. It is one of the few companies in the fast-growing Additive Manufacturing field with commercial production experience in both metals and plastics. The company’s customers include a number of major aerospace industry prime contractors and suppliers.
“We are very excited to welcome Directed Manufacturing to RTI. We believe its technology, track record of profitable commercial production, proven quality, performance and base of established customers immediately puts RTI at the forefront of Additive Manufacturing and 3D Printing – the technology that is rapidly expanding it’s influence on global manufacturing,” Dawne S. Hickton, Vice Chair, President and CEO of RTI, said.“The growth potential for Additive Manufacturing solutions in RTI’s and Directed Manufacturing’s markets is truly exceptional. We look forward to maximizing the commercial opportunities that the new capabilities of our latest acquisition will generate, particularly on the most advanced new commercial aircraft and engine platforms, as well as medical device applications,” Ms. Hickton added. “We are also anxious to pursue opportunities with businesses in other market segments that are seeking the cost effectiveness of near-net-shape production that Directed Manufacturing’s 3D Printing capability delivers.”
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts