Dynamet Technology Inc sold to RTI International for $15.5M
June 4, 2014
RTI International Metals, Inc. has announced the purchase of Dynamet Technology, Inc. for a reported US$15.5 million. Based in Burlington, Massachusetts, USA, Dynamet Technology will be included in RTI’s titanium segment.
Dynamet Technology manufactures products from the company’s proprietary titanium alloys, standard titanium alloys and metal matrix composites using Dynamet’s advanced powder metallurgical process. Near-net shape preforms and products that have been successfully produced and commercialised by Dynamet include various missile parts as well as CermeTi metal matrix composite material for medical implant products.
In February 2012, Dynamet Technology announced the receipt of qualification approval from Boeing for the supply of powder metal Ti-6Al-4V alloy products for structural components on commercial aircraft. This was followed by AS9100C certification in April 2013. In September 2013, Dynamet Technology received the International Titanium Association’s Titanium Applications Development Award.
“This acquisition, RTI’s second new advanced technology investment this year, adds innovative titanium powder research and development, as well as a second distinct powder-based manufacturing technology to RTI’s capabilities,” stated Dawne S Hickton, Vice Chair, President and CEO of RTI.
“Together with our acquisition in January of RTI Directed Manufacturing, which specialises in 3D printing, the addition of Dynamet Technology enhances RTI’s strategic positioning to capitalise on increasing customer demand for lower cost materials and innovative near-net shape preforms and components. RTI looks forward to working with the Dynamet Technology team to maximize the opportunities we are confident this combination of talents will create,” added Hickton.
Stanley Abkowitz, Founder of Dynamet Technology, stated, “We look forward to becoming part of the innovative team and culture at RTI. Our common view of the vast market opportunities and applications for the continued development and use of Dynamet Technology’s advanced powder metal technology make joining with RTI the ideal path forward to accelerate progress and market acceptance.”
