Alcoa to Aquire RTI International Metals

Alcoa, a provider of high-performance metals, has stated its intent to acquire RTI International Metals Inc. RTI is a supplier of specialty metal products and services for the aerospace, defense, energy and medical device markets.

This transaction, according to the company, will help expand advanced manufacturing and material technologies and services.

“Innovation and scale are critical to winning in both the titanium and aerospace industries today, which is why this transaction is such a natural strategic fit for both RTI and Alcoa,” said Dawne Hickton, vice chair, president and chief executive officer of RTI International Metals. “We are pleased to have an agreement with Alcoa that delivers immediate value to our shareholders that appropriately reflects the strength of our business. Through this combination of forces, RTI will take its innovative technologies to the next level and deliver even more value-add titanium solutions to meet customer needs. We look forward to continuing to accelerate RTI’s success as a part of the Alcoa team.”

For more information, visit Alcoa.

Sources: Press materials received from the company and additional information gleaned from the company’s website.