RTI International Metals, Inc. (NYSE: RTI), announced today that it was chosen by The Boeing Company (Boeing) to manage and perform expanded titanium parts manufacturing, machining and assembly activities related to the Boeing 787 Dreamliner airplane seat track system.
Under the agreement, RTI’s Engineered Products and Services Segment will perform sub-assembly activities to prepare RTI-manufactured center fuselage seat track system components for final airplane installation as well as manufacture additional parts required in the sub-assembly. Final machining and sub-assembly operations will be performed and managed at RTI Claro in Laval, Quebec, Canada. Additional titanium parts called for under the agreement will be sourced through RTI’s Titanium Segment using titanium mill product produced in Ohio, with extrusion work to be completed at RTI Extrusions in Houston, TX.
“RTI’s selection by Boeing to perform expanded work across our integrated supply chain for the 787 seat track system demonstrates confidence in RTI’s ability to perform as well as the enhanced value we provide through our vertically integrated supply chain capabilities,” Christian Sauvé, Vice President & General Manager, RTI Claro said. “In addition, this new agreement with Boeing highlights opportunities that can be realized through RTI’s strong, strategic level customer relationships. We look forward to successfully executing this additional work package and to exploring additional opportunities to further expand our partnering relationship.”
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, 2013, 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. For more than 60 years, RTI has been taking titanium further through advanced manufacturing, engineering, machining, and forming processes. RTI delivers titanium mill products, extruded shapes, formed and 3D-printed parts, and highly engineered precision-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 our website at www.rtiintl.com.