RTI International Buys Osborn Steel Extrusions Business Unit - Quick Facts

(RTTNews) - RTI International Metals, Inc. (RTI), Tuesday said it has acquired the Osborn Steel Extrusions business unit of Osborn Metals Limited for about $15 million in cash.

Located in Bradford, England, Osborn Steel Extrusions specializes in the manufacture of less than 6 inch diameter extruded titanium and stainless steel hollows and near-net shape profile parts.

It provides its products principally to commercial aerospace, energy, power generation and defense market customers.

Dawne Hickton, CEO of RTI, said, "The acquisition of Osborn Steel Extrusions represents the continued execution of RTI's growth strategy on enhancing our value-added, downstream titanium and specialty materials engineered products and services capabilities.''

Hickton added that combined with the extrusion assets of the Houston, Texas-based RTI Fabrication unit, RTI is now capable of providing a full complement of hollow and solid shaped extruded products in the small- to mid-size range.

The unit currently generates $20 million in annual revenues. It will operate under the name RTI Extrusions Europe Limited as part of RTI's Engineered Products and Services segment.