FOR IMMEDIATE RELEASE DECEMBER 18, 2000

Contact:

Richard E. Leone
Manager-Investor Relations
330.544.7622

 

RTI ANNOUNCES EUROPEAN ACQUISITION, MILL OUTAGE

Niles, Ohio – RTI International Metals, Inc., (NYSE: RTI) announced today that it has purchased the remaining outstanding shares of Reamet, S.A. of Villette, France, for $4 million in cash.  RTI had previously held a 40% interest in Reamet.

Reamet is a premier distributor of titanium products to the French market, serving aerospace, military, and industrial customers.  Its largest customer is Aerospatiale, French partner to the Airbus consortium, with which it has a contract to supply titanium, principally in the form of cut plate.  Reamet’s sales in 2000 will exceed $20 million. The acquisition is expected to add approximately $.05 per share to RTI’s 2001 income on a consolidated basis.

Charles Barbery, Reamet’s founder, will continue in his current role as President. Reamet will become part of RTI Europe, RTI’s network of fabrication and distribution facilities serving Europe with specialty metals and processing.  RTI Europe has locations in Great Britain, Germany, Italy, and now France.

Timothy G. Rupert, RTI's President and CEO, noted, "Reamet has been a well respected supplier of titanium products in France since 1978.  In recent years they have expanded their cut-to-size, kitting, and e-business capabilities.  The addition of Reamet to our European network will further strengthen RTI’s ability to serve our European customers, most notably, the Airbus family of manufacturers."

The transaction has been approved by the French Finance Ministry.

RTI also disclosed a mechanical failure at its 4-high rolling mill in Niles, Ohio.  The mill has been repaired and operations have resumed.  However, the one-week outage is likely to reduce flat product shipments and earnings for the fourth quarter.

This news release contains forward-looking statements that involve risks and uncertainties.  These include but are not limited to the cyclical nature of the commercial aerospace industry, chemical processing, oil and gas industries, uncertain defense spending, and the competitive market for specialty metals.  Other risks and uncertainties have previously been included in the Company’s filings with the Securities and Exchange Commission, copies of which are available from the SEC or from RTI Investor Relations.

RTI International Metals, Inc., headquartered in Niles, Ohio, through its various subsidiaries, manufactures and distributes titanium and specialty metal mill products, and extruded shapes, as well as engineered systems for energy-related markets and environmental engineering services.  The Company’s products are used for aerospace, industrial, military, and consumer applications.