FOR IMMEDIATE RELEASE, December 16, 1998
CONTACT:
Crystal L. Revak, Director
Investor Relations
(330) 544-7622
RMI TITANIUM COMPANY PERMANENTLY IDLES TWO FURNACES
Niles, Ohio RMI Titanium Company announced today that, due to improved operating practices and reduced aerospace demand, it is permanently shutting down two of the six vacuum arc furnaces in the primary melt shop at its Niles, Ohio, plant. The shutdown will result in the elimination of approximately 25 jobs and a fourth quarter charge to earnings of approximately $1 million.
The plant was struck by approximately 500 of its employees represented by the United Steelworkers of America on October 1, 1998. The facility is being operated by the Companys salaried personnel.
RMI Titanium Company is a wholly-owned subsidiary of RTI International Metals, Inc. (NYSE; RTI), headquartered in Niles, Ohio. RMI manufactures titanium mill products used for fabricated components in commercial and military aircraft and engines, energy exploration and refining, chemical processing equipment, pulp and paper production facilities, medical implants and consumer goods.
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