RTI Announces 7-Year Agreement with Bombardier* to Supply Precision Machined Components and Assemblies
LE BOURGET, France--(BUSINESS WIRE)-- RTI International Metals, Inc. (NYSE: RTI ) , today announced its wholly owned subsidiary RTI Claro, Inc., earlier this year entered into a long-term contract with Bombardier Aerospace (Bombardier) (TSE: BBD) to supply precision machined components and assemblies for several Bombardier* aircraft models. This agreement, which replaces a recently expired supply arrangement, runs through 2019 and calls for RTI to manufacture components and assemblies not previously provided by RTI.
With this new agreement, RTI Claro expands its presence across Bombardier’s product line to include new platforms such as the CSeries* family of commercial airliners, as well as the Learjet 85* and Global 7000* and Global 8000* business aircraft. RTI Claro will continue to contribute to the CRJ* Series regional jets, as well as to the Challenger* and Global* business jets. In addition, RTI Claro is enhancing its breadth of product and solution offerings to Bombardier to now include the provision of larger aluminum components. RTI expects to begin delivering these additional component and assembly solutions as its new manufacturing equipment investments come online this year.
“The combination of this new, enhanced, long-term supply agreement, and our investment in additional machining capabilities at our RTI Claro facility, demonstrate our growth as a trusted and strategic Bombardier supplier,” said Dawne S. Hickton, Vice Chair, President and CEO of RTI. “The nature of the new component and assembly solutions to be provided under this agreement will require RTI to work with Bombardier as a more integrated part of their supply chain. This is aligned with our growth strategy to become a provider of product solutions across all stages of the aerospace supply chain.”
RTI Claro has been a high-performing and trusted supplier to Bombardier for over 25 years. The company’s performance excellence is exemplified by its achievement of a 4-STAR supplier rating and its success in becoming the first supplier to reach the MACH 4 level under Bombardier’s sponsorship of the Aero Montréal MACH supplier recognition initiative.
RTI Forward-Looking Statement
All statements in this release relating to matters that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected, anticipated or implied. These risks and uncertainties include, but are not limited to, the impact of global events on the commercial aerospace industry, actual build-rates, production schedules and content per aircraft for commercial and military aerospace programs, the competitive nature of the markets for specialty metals, the ability of RTI to obtain adequate raw materials, global economic conditions, the successful completion of RTI’s capital expansion projects, and other risks and uncertainties described and included in RTI’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2012, and the exhibits attached to those filings. Actual results can differ materially from those forecasted or expected. The information contained in this release is qualified by and should be read in conjunction with the statements and notes filed with the Securities and Exchange Commission on Forms 10-K and 10-Q, as may be amended from time to time. The forward-looking statements in this document are intended to be subject to the safe harbor protection provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. RTI undertakes no obligation to update or revise any forward-looking statements.
RTI International Company Description
RTI International Metals, Inc., headquartered in Pittsburgh, specializes in advanced titanium, meeting the requirements of the world's most technologically sophisticated applications in commercial aerospace, defense, propulsion, energy, industrial, chemical, and medical markets. For over 60 years, RTI has been taking titanium further through advanced manufacturing, engineering, machining, and forming processes. RTI delivers titanium mill products, extruded shapes, form-ready parts, and highly engineered components through our downstream integrated supply chain. RTI has locations in the United States, Canada, Europe, and Asia. To learn more about RTI International Metals, Inc., visit our website at www.rtiintl.com.
*Trademarks of Bombardier Inc. or its subsidiaries
RTI International Metals, Inc.
Dan Crookshank, 412-893-0084
Director – Investor Relations
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