RTI International Metals, a global supplier of advanced titanium mill products and fabricated components, entered into a stock purchase agreement under which it will acquire Remmele Engineering Inc. in a transaction valued at $182.5 million. Remmele provides precision machining and collaborative engineering, as well as other key technologies and services, for the aerospace and defense and medical-device sectors. The acquisition is expected to close before the end of the first quarter of 2012. The acquisition is expected to accelerate and transform RTI’s downstream fabrication strategy in the aerospace and defense sector while providing entrance to the fast-growing medical-device market.
Customers of the combined organization will benefit from the
complementary strengths of RTI and Remmele as an integrated titanium
manufacturer. Remmele's expertise in engineering and precision machining of
titanium for the medical-device sector is expected to enhance RTI’s aerospace
and defense capabilities, and RTI’s titanium manufacturing experience will help
broaden the product offering to Remmele’s existing customers.