Specialty metals producer RTI International Metals Inc. has
acquired the Osborn Steel Extrusions division of Bradford,
England-based Osborn Metals Ltd. for about $15 million in
acquisitionthe first by Pittsburgh-based RTI since early
2012continues its move into downstream titanium and
specialty metal products while also extending its range in
Extrusions, which specializes in the manufacture of extruded
titanium and stainless steel hollows, primarily serves the
commercial aerospace, energy and defense industries. RTI said
the business, which generates around $20 million in annual
revenue, will operate under the name RTI Extrusions Europe Ltd.
as part of RTIs Engineered Products and Services
RTIs purchase of
the Osborn operation was its first acquisition since its
largest takeover, the $182-million purchase of Remmele
Engineering Inc., New Brighton, Minn. (
amm.com, Feb. 15, 2012). While significantly
smaller than the Remmele acquisition, its similar in the
sense that it adds to RTIs downstream capabilities in
contrast to basic titanium production.
The Osborn acquisition
"represents the continued execution of RTIs growth
strategy of enhancing our value-added, downstream titanium and
specialty materials engineered products and services
capabilities," RTI vice chairwoman, president and chief
executive officer Dawne S. Hickton said in a statement.
Osborn will complement
the parent companys Houston-based RTI Fabrication unit,
which an RTI spokesman said produces extruded shapes up to 17.5
inches. Among the Houston operations roles is supplying
titanium extrusions for the seat tracks on Boeing Co.s
787 Dreamliner, which are subsequently machined at the parent
companys RTI Claro subsidiary in Montreal.
"Combined with the
extrusion assets of our Houston-based RTI Fabrication unit, RTI
is now capable of providing a full complement of hollow and
solid shaped extruded products in the small to mid-size
Hickton added that the
companys business includes "several extruded part
positions on both Airbus (SAS) and Boeing commercial aircraft
legacy and growth programs," and it will add to RTIs
"growing European footprint."
RTI specializes in the
production of advanced titanium products for commercial
aerospace, defense, energy and industrial markets. RTI, whose
aerospace business in recent years has been concentrated in
airframes, has targeted the engine segment with a new electron
beam furnace in Canton, Ohio.
Frank Haflich, Los
Angeles, contributed to this story.