Titanium still facing competitive pressure: RTI
Mar 03, 2014 | 03:56 PM
| Frank Haflich
LOS ANGELES Competitive pressure is continuing in the titanium spot market, the top executive of RTI International Metals Inc. acknowledged.
Dawne S. Hickton, RTIs vice chairwoman, president and chief executive officer, was asked during the companys quarterly earnings conference call if she had seen a "change in the competitive environment" in recent months, specifically influenced by the December 2012 acquisition of Titanium Metals Corp. (Timet) by Portland, Ore.-based Precision Castparts Corp. (PCC).
"Absolutely," she replied, noting that initially "we didnt see that there would be a big impact" from PCCs $2.9-billion purchase of Exton, Pa.-based Timet, "but in the last three to six months weve definitely seen increased competitive activity," citing "a supply scenario or a capacity scenario now that allows that to happen."....
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