RTI’s titanium sponge exit leaves single project in US

Dec 15, 2009 | 11:05 AM | Frank Haflich

Cancellation of a new Mississippi titanium sponge operation leaves just one project left in what was once an ambitious era of front-end expansions planned for the United States.

RTI International Metals Inc. this week said it will "indefinitely idle" plans to build a $300-million sponge facility in Hamilton, Miss., and has instead signed additional long-term sponge purchase agreements with two Japanese producers, which means it will remain the only totally non-integrated domestic producer for the foreseeable future.

The 20-million pound-per-year operation was initially due to go on-stream in 2010. As a result, RTI expects to incur asset impairment and related charges of $65 million to $75 million.

The new contracts are with Japan's Osaka Titanium Technologies Co. Ltd., already a long-term supplier to RTI, and Toho Titanium Co. Ltd. The terms and amounts were not disclosed.....

Latest Pricing Trends


Are you stocking more inventory today than 18 months ago?


View previous results