News Column

BRIEF: RTI International buys powder metallurgy firm for $15.5M

June 3, 2014

By John D. Oravecz, The Pittsburgh Tribune-Review



June 03--RTI -- International Metals Inc. said on Tuesday it acquired Dynamet Technology Inc., an industry leader in titanium powder metallurgy and a supplier of components to aerospace, defense, biomedical and industrial customers.

Moon-based RTI paid $15.5 million in cash for Burlington, Mass.-based Dynamet, plus a potential future cash payment.

"This acquisition, RTI's second new advanced technology investment this year, adds innovative titanium powder research and development, as well as a second distinct powder-based manufacturing technology to RTI's capabilities," said CEO Dawne S. Hickton.

In January, RTI acquired Directed Manufacturing Inc. of Austin, Texas, which specializes in 3-D printing, for $23 million in cash, the company said.

RTI also said it appointed Kathryn J. Jackson to the post of chief technology officer, effective June 23. As RTI's top scientist, Jackson will oversee the company's metallurgical technology and process innovation. Jackson joins RTI from Westinghouse Electric Co., Cranberry, where she served for the past five years chief technology officer, responsible for research and development and environmental initiatives.

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(c)2014 The Pittsburgh Tribune-Review (Greensburg, Pa.)

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Source: Pittsburgh Tribune-Review (PA)


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