RTI International Metals, Inc. (NYSE: RTI), announced today it has acquired Dynamet Technology, Inc., an industry innovator in titanium powder metallurgy and a supplier of near-net shape titanium and titanium alloy preforms and components to commercial aerospace, defense, biomedical and industrial customers. Based in Burlington, Mass., Dynamet Technology will be included in RTI’s Titanium Segment. Purchase terms of the transaction were $15.5 million in cash, plus potential future cash consideration.
Dynamet Technology’s products are manufactured from the company’s proprietary titanium alloys, standard titanium alloys, and metal matrix composites using Dynamet Technology’s advanced powder metallurgical process. Near-net shape preforms and products that have been successfully produced and commercialized by Dynamet Technology include various missile parts as well as CermeTi® metal matrix composite material for medical implant products. In February 2012, Dynamet Technology announced the receipt of qualification approval from a large commercial aerospace OEM for the supply of powder metal Ti-6Al-4V alloy products for structural components on commercial aircraft. This was followed by AS9100C certification in April 2013 – a widely adopted and standardized quality management system certification that aerospace and defense manufacturers require of their suppliers. Last September, Dynamet Technology received the International Titanium Association’s Titanium Applications Development Award for 2013.
“This acquisition, RTI’s second new advanced technology investment this year, adds innovative titanium powder research and development, as well as a second distinct powder-based manufacturing technology to RTI’s capabilities,” Dawne S. Hickton, Vice Chair, President and CEO of RTI, said. “Together with our acquisition in January of RTI Directed Manufacturing, which specializes in 3D printing, the addition of Dynamet Technology enhances RTI’s strategic positioning to capitalize on increasing customer demand for lower cost materials and innovative near-net shape preforms and components. RTI looks forward to working with the Dynamet Technology team to maximize the opportunities we are confident this combination of talents will create.”
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