RTI Claro, the wholly-owned subsidiary of the titanium mill
RTI International Metals, Inc.
), has signed a long-term contract with Bombardier Aerospace
(Bombardier) to supply precision machined components and
assemblies for different Bombardier aircraft models.
The agreement replaces the recently-expired supply contract.
The latest agreement is for 7 years and will run till 2019. Under
the new contract, RTI Claro will be producing components and
assemblies for Bombardier aircraft models, which were not
supplied in the previous agreement.
With the new deal, RTI Claro strengthens its offerings across
Bombardier's product line by making entry with new platforms such
as the CSeries family of commercial airliners, the Learjet 85 and
Global 7000 and Global 8000 business aircraft. However, RTI Claro
will keep contributing to the CRJ Series regional jets, the
Challenger and the Global business jets. In addition, RTI Claro
will be enriching its offerings to Bombardier in order to offer
the provision of including larger aluminum components.
RTI Claro plans to begin delivering these solutions as its new
manufacturing equipment investments starts in 2013.
With this new agreement and the investments in additional
machining capabilities, RTI Claro establishes itself as a
high-performing and trusted supplier to Bombardier. RTI Claro has
been a strategic supplier to Bombardier for over 25 years.
RTI Claro's work performance is depicted through its
achievements of a 4-STAR supplier rating and is the first
supplier to reach the MACH 4 level under Bombardier's sponsorship
of the Aero Montréal MACH supplier recognition initiative.
RTI International, which is among the prominent specialty
steel companies along with
Allegheny Technologies Inc.
Sutor Technology Group Limited
Material Sciences Corporation
), posted its first-quarter 2013 results on Apr 30. The company's
reported earnings from continuing operations of 18 cents per
share exceeded the Zacks Consensus Estimate of 15 cents and
year-ago earnings of 17 cents. Profit from continuing
operations increased to $5.5 million from $5.1 million in the
Revenues surged 21% to $187.5 million in the quarter from
$154.6 million in the year-ago quarter. It was also ahead of the
Zacks Consensus Estimate of $183 million.
RTI International expects its Boeing 787 pi-box seat track
program to ramp up to a ten ship sets per month run rate by the
end of 2013. It also anticipates its mill product shipments to
Airbus and the Joint Strike Fighter to remain as previously
projected. The company reaffirmed its operating income
expectations for 2013, which is forecast in a range of $65
million to $75 million.
RTI International currently carries a Zacks Rank #3
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