Titanium still facing competitive pressure: RTI

Mar 03, 2014 | 03:56 PM | Frank Haflich

Tags  titanium, RTI Titanium, Dawne Hickton, Precision Castparts, PCC, titanium sponge, Timet, Titanium Metals 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, RTI’s vice chairwoman, president and chief executive officer, was asked during the company’s 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 didn’t see that there would be a big impact" from PCC’s $2.9-billion purchase of Exton, Pa.-based Timet, "but in the last three to six months we’ve definitely seen increased competitive activity," citing "a supply scenario or a capacity scenario now that allows that to happen."....

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