Alcoa completes acquisition of RTI

Staff report

WEATHERSFIELD

Signs were changed at RTI International Metals Inc.’s plant on Warren Avenue after it merged into lightweight metals leader Alcoa.

The New York-based company’s acquisition of RTI, which was announced March 9, was completed Thursday.

In a statement, Klaus Kleinfeld, Alcoa chairman and chief executive officer, said the acquisition takes the company’s portfolio in the multimaterial aerospace market to greater heights.

“By combining the talent and advanced technology of RTI and Alcoa, we significantly increase Alcoa’s aerospace market reach. Through this and our other investments and innovations, we are positioning the company to capture even more-profitable growth and create greater sustainable value for our customers, employees and shareholders,” he said.

RTI International Metals Inc., a global manufacturer in titanium and specialty metal products and services for the aerospace, defense, energy and medical-device markets, is being integrated as a stand-alone business unit into Alcoa’s downstream Engineered Products and Solutions segment.

It will be called Alcoa Titanium & Engineered Product with Eric Roegner as its president. He will continue to work as chief operating officer of EPS and president of Alcoa Defense.

Alcoa expects RTI to contribute $1.2 billion in revenue in 2019, up from $794 million that RTI generated in 2014 with 65 percent of revenues supported by contracts over the next five years.

RTI’s growth is based on contracts, including the recently announced contract with Airbus for finished titanium structural supply parts for the new A350-1000 aircraft program with Alcoa to supply titanium parts for the fuselage.

RTI International Metals Inc. was based in Weathersfield for 50 years before relocating to Pittsburgh in 2008. Its Warren Avenue plant employs 500.