FOR IMMEDIATE RELEASE OCTOBER 21, 2003
Contact:
Richard E. Leone
Manager - Investor Relations
330-544-7622
RTI INTERNATIONAL METALS
ANNOUNCES
VOTE SCHEDULED ON LABOR PACT
Niles, Ohio – RTI International
Metals, Inc., (NYSE: RTI) announced today a second labor contract extension
between its titanium subsidiary, RMI Titanium Company, and the United Steelworkers
of America, pending a vote on the Company’s final offer. The contract was
originally scheduled to expire on October 15th. A vote has been scheduled
to take place Saturday, October 25, 2003, on the Company’s final proposal.
Until then, represented employees will continue to work under the terms of
the existing agreement.
RMI has been working to reduce cost at all levels and remain competitive in an extremely weak titanium market. In its contract offer, the Company seeks to cut production costs, primarily through work-rule changes and job combinations with no cuts in wages or pensions. The offer includes a $1,000 signing bonus for all represented employees.
RTI International Metals, 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, defense, energy, chemical and consumer applications for customers around the world.
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