FOR IMMEDIATE RELEASE MARCH 21, 2005
RTI INTERNATIONAL
METALS SUPPORTS
OHIO GOVERNOR TAFT’S TAX REFORM INITIATIVE
Niles, Ohio – RTI International Metals, Inc., (NYSE: RTI) announced today its support of a tax reform plan put forth by Ohio Governor Bob Taft that is designed to encourage investment in Ohio manufacturing.
Governor Taft’s initiative would phase out business taxes that discourage investment and put Ohio companies at a competitive disadvantage. Franchise and personal property taxes, both of which would be phased out, penalize companies for having assets in Ohio, which in turn discourages job growth in the state.
Lost revenues under the plan would be replaced through a new gross receipts tax, designed to promote export of Ohio goods and services and an increase to the tax on the consumption of electricity.
“The Governor’s tax reform plan is
good for Ohio manufacturers and for the jobs they create. This is especially
true for companies like RTI that find themselves in industries that require
large capital investments, but provide cyclical returns. We applaud the Governor’s
initiative and urge the Ohio House and Senate to implement these changes as
soon as possible,” said Timothy G. Rupert, President and CEO.
RTI International Metals®,
headquartered in Niles, Ohio, is one of the world’s largest producers of titanium.
Through its various subsidiaries, RTI manufactures and distributes titanium
and specialty metal mill products, extruded shapes, formed parts and engineered
systems for aerospace, industrial, defense, energy, chemical and consumer applications
for customers around the world. To learn more about RTI International Metals,
Inc., visit our website at www.rtiintl.com.
Contact:
Richard E. Leone
Manager - Investor Relations
rleone@rtiintl.com
330-544-7622
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