RTI Int'l Metals acquires Dynamet Technology

Pittsburgh – RTI International Metals Inc. has acquired Dynamet Technology Inc., an industry innovator in titanium powder metallurgy and a supplier of near-net shape titanium and titanium alloy preforms and components to commercial aerospace, defense, biomedical, and industrial customers. Based in Burlington, Mass., Dynamet Technology will be included in RTI's Titanium Segment. Purchase terms of the transaction were $15.5 million in cash, plus potential future cash consideration.

 

Dynamet Technology's products are manufactured from the company's proprietary titanium alloys, standard titanium alloys, and metal matrix composites using the company’s advanced powder metallurgical process. Near-net shape preforms and products that have been successfully produced and commercialized by Dynamet Technology include various missile parts as well as CermeTi metal matrix composite material for medical implant products. In February 2012, Dynamet Technology announced the receipt of qualification approval from a large commercial aerospace OEM for the supply of powder metal Ti-6Al-4V alloy products for structural components on commercial aircraft. This was followed by AS9100C certification in April 2013. Last September, Dynamet Technology received the International Titanium Association's Titanium Applications Development Award for 2013.

 

"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," Dawne S. Hickton, Vice Chair, President and CEO of RTI, said. "Together with our acquisition in January of RTI Directed Manufacturing, which specializes in 3D printing, the addition of Dynamet Technology enhances RTI's strategic positioning to capitalize on increasing customer demand for lower cost materials and innovative near-net shape preforms and components. RTI looks forward to working with the Dynamet Technology team to maximize the opportunities we are confident this combination of talents will create."

 

Stanley Abkowitz, founder of Dynamet Technology, said: "We look forward to becoming part of the innovative team and culture at RTI. Our common view of the vast market opportunities and applications for the continued development and use of Dynamet Technology's advanced powder metal technology make joining with RTI the ideal path forward to accelerate progress and market acceptance."

 

Additional details regarding the transaction were not disclosed.