ACQUISITIONS RTI International agrees to buy Canadian company

WEATHERSFIELD -- RTI International Metals has signed an agreement to acquire Claro Precision Inc. of Montreal, a manufacturer of precision-machined components and complex mechanical and electrical assemblies for the aerospace industry.
The transaction for cash and stock is expected to close next month, RTI announced Tuesday.
A significant portion of Claro's parts are produced for regional and business jet programs at Bombardier, the Canadian aircraft manufacturer.
Founded in 1966, Claro has 130 employees and annual revenues of about $20 million in Canadian dollars.
The company will operate as part of RTI's fabrication and distribution group, with Daniel Molina, owner and vice president of Claro, as the company's new president.
Jean-Louis Mourain, owner and current president, will continue as a consultant. Jerome Mourain will become the company's general manager.
"The acquisition of Claro further extends RTI's ability to add value to its metal products," said Tomothy G. Rupert, RTI's president and chief executive. Weathersfield-based RTI is one of the world's largest titanium producers.
"Claro's operations not only provide diversification in the form of machining and assembly capabilities, but also give RTI greater access to the regional and business jet sector," he added.
RTI is the parent company of RMI Titanium Co. in Niles, where 340 workers have been locked out for 11 months. The locked-out workers belong to United Steelworkers of America locals 2155 and 2155-7.