RTI International Metals Inc. has paid $23 million for Directed Manufacturing Inc., which offers additive manufacturing of metals and plastics for both commercial production and engineering development applications. The transaction is expected to enhance RTI’s ability to deliver titanium and other advanced material solutions to customers in aerospace and medical device markets.
Based in Austin, Texas, Directed Manufacturing (which will do business as RTI Directed Manufacturing Inc.) becomes the flagship organization in RTI’s Advanced Additive product line. It produces complex products using titanium, nickel-chromium alloys, and other specialty metals and composite plastics. The specific additive manufacturing or “3D Printing” technologies used by the company include direct metal laser sintering and plastic laser sintering systems.
Directed Manufacturing currently manufactures products that include aerospace airfoils, rakes, guide vanes and injection nozzles, complex fasteners, surgical tools, medical implants, and injection mold inserts.
“We are very excited to welcome Directed Manufacturing to RTI. We believe its technology, track record of profitable commercial production, proven quality, performance and base of established customers immediately puts RTI at the forefront of Additive Manufacturing and 3D Printing – the technology that is rapidly expanding its influence on global manufacturing,” says Dawne S. Hickton, Vice Chair, President and CEO of RTI.
“The growth potential for Additive Manufacturing solutions in RTI’s and Directed Manufacturing’s markets is truly exceptional. We look forward to maximizing the commercial opportunities that the new capabilities of our latest acquisition will generate, particularly on the most advanced new commercial aircraft and engine platforms, as well as medical device applications,” Hickton adds. “We are also anxious to pursue opportunities with businesses in other market segments that are seeking the cost effectiveness of near-net-shape production that Directed Manufacturing’s 3D Printing capability delivers.”
“We are delighted to combine our company with RTI. Its existing capabilities, financial strength, strong market presence and global footprint make it the perfect partner for Directed Manufacturing to continue and accelerate our progress as we move forward together,” says Alex Fima, Founder of Directed Manufacturing.
RTI International Metals is headquartered in Pittsburgh, Pa.
Release Date: January 22, 2014
Source: The Associated Press