New York – Norsk Titanium AS (NTi), a Norway-based leader in manufacturing premium quality titanium components for industrial applications, announced that RTI International Metals Inc., a global supplier of titanium and specialty metal products and services, has become a strategic investor and minority partner with the company. RTI made an investment of an undisclosed amount for strategic cooperation projects surrounding NTi's 3D printing technology, known as direct metal deposition (DMD) technology that transforms titanium wire into complex components that are up to 80% complete. The 3D printing process involved reduces time from CAD drawings to manufacturing of finished titanium components by up to 90% and the cost by up to 70% compared to incumbent processes.
“This investment is an important endorsement of the hard work and achievements of the NTi team, who are poised to accelerate the market reach of our company’s game-changing technology for the production of titanium components, delivering to our customers the benefits of reduced price, shorter lead times, and increased design flexibility,” said Executive Chairman of NTi’s Board of Directors John Andersen, Jr.
“RTI is pleased to be a strategic industrial investor in NTi. Its DMD technology, a form of additive manufacturing or 3D printing, is a game-changer," said Dawne Hickton, vice chair, president and CEO of RTI. "Combining NTi's innovative technology with RTI's upstream raw materials and downstream fabrication capabilities has significant applications in the titanium closed-die forging market, with commercialization opportunities within the next 12 months.”
NTi has achieved technology readiness level six (TRL6), which demonstrates its ability to meet stringent A&D material requirements. NTi expects to achieve technology readiness level eight (TRL8) by the fourth quarter of this year. The A&D industry is the largest and most demanding segment for titanium components.
Source: RTI International Metals Inc.
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