RTI International Metals Inc., Pittsburgh, has acquired the Osborn Steel Extrusions business unit of Osborn Metals Ltd., UK, for approximately $15 million in cash. Osborn Steel Extrusions specializes in the manufacture of less than 6-in. diameter extruded titanium and stainless steel hollows and near-net shape profile parts. It principally supplies commercial aerospace, energy, power generation, and defense customers.
“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,” says Dawne S. Hickton, Vice Chair, President, and CEO of RTI.
Combined with the extrusion assets of its fabrication unit in Houston, RTI is now capable of providing a full complement of hollow and solid shaped extruded products in the small- to mid-size range. These comprise the sizes in which RTI expects most opportunities for new and continuing business, including the potential for additional new smaller-sized aerospace engine components.
In addition, Osborn Steel Extrusions brings with it several extruded part positions on both Airbus and Boeing commercial aircraft legacy and growth programs. The unit, which currently generates approximately $20 million in annual revenues, will operate under the name RTI Extrusions Europe Limited as part of RTI’s Engineered Products and Services segment.
