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Stock Market & Financial Investment News

News Breaks
June 25, 2014
13:23 EDTRTIRTI International names Michael McAuley as CFO, effective July 1
On June 19, Michael McAuley was appointed as the Senior Vice President, CFO and Treasurer of RTI International Metals, effective July 1. McAuley was the Vice President and Treasurer of Goodrich Corporation from December 2007 until July 2012 and was a Vice President and Segment Controller for its Actuation and Landing Systems Segment from January 2004 to December 2007.
News For RTI From The Last 14 Days
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July 23, 2015
09:06 EDTRTIAlcoa announces realignment of downstream portfolio
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09:02 EDTRTIAlcoa completes acquisition of RTI International
Alcoa (AA) announced that it has completed the acquisition of RTI International Metals (RTI). The merger, announced on March 9, became effective today. Under the terms of the merger agreement, each share of RTI common stock has been converted into the right to receive 2.8315 shares of Alcoa common stock, plus an amount of cash in lieu of fractional shares of Alcoa common stock. Alcoa expects RTI to contribute $1.2 billion in revenue in 2019, up from $794 million that RTI generated in 2014, with 65 percent of revenues supported by contracts over the next five years. RTI’s profitability is expected to reach 25 percent EBITDA margin in 2019. Contracts that underpin RTI’s growth include the recently announced contract with Airbus for finished titanium structural supply parts for the new A350-1000 aircraft program. Under the agreement, Alcoa will supply titanium parts for the fuselage, among other components. Alcoa expects global aerospace sales growth of 8 to 9 percent in 2015. Projections for 2016 and 2017 sales growth have nearly doubled to 8 and 13 percent, from 4 to 5 percent and 6 percent, respectively, showing the ongoing strength of the sector. Eighty percent of RTI’s revenues in 2014 were from the aerospace and defense industries. With RTI, Alcoa’s 2014 pro forma aerospace revenue increases by 13 percent to $5.6 billion. RTI is being integrated as a standalone business unit into Alcoa’s downstream Engineered Products and Solutions segment.

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