<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934
Date of Report (Date of earliest event reported)
December 18, 2000 (December 18, 2000)
RTI INTERNATIONAL METALS, INC.
(Exact name of registrant as specified in its charter)
Ohio 001-14437 52-2115953
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
1000 Warren Avenue
Niles, OH 44446
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (330) 544-7700
<PAGE> 2
RTI P.O. BOX 269
INTERNATIONAL 1000 WARREN AVENUE
METALS, INC. NILES, OHIO 44446-0269
ITEM 5. Niles, Ohio - RTI International Metals, Inc., (NYSE: RTI) announced
today that it has purchased the remaining outstanding shares of Reamet,
S.A. of Villette, France, for $4 million in cash. RTI had previously
held a 40% interest in Reamet.
Reamet is a premier distributor of titanium products to the French
market, serving aerospace, military, and industrial customers. Its
largest customer is Aerospatiale, French partner to the Airbus
consortium, with which it has a contract to supply titanium,
principally in the form of cut plate. Reamet's sales in 2000 will
exceed $20 million. The acquisition is expected to add approximately
$.05 per share to RTI's 2001 income on a consolidated basis.
Charles Barbery, Reamet's founder, will continue in his current role as
President. Reamet will become part of RTI Europe, RTI's network of
fabrication and distribution facilities serving Europe with specialty
metals and processing. RTI Europe has locations in Great Britain,
Germany, Italy, and now France.
Timothy G. Rupert, RTI's President and CEO, noted, "Reamet has been a
well respected supplier of titanium products in France since 1978. In
recent years they have expanded their cut-to-size, kitting, and
e-business capabilities. The addition of Reamet to our European network
will further strengthen RTI's ability to serve our European customers,
most notably, the Airbus family of manufacturers."
The transaction has been approved by the French Finance Ministry.
(more)
<PAGE> 3
RTI
INTERNATIONAL
December 18, 2000 METALS, INC.
Page 2 of 2
RTI also disclosed a mechanical failure at its 4-high rolling mill in
Niles, Ohio. The mill has been repaired and operations have resumed.
However, the one-week outage is likely to reduce flat product shipments
and earnings for the fourth quarter.
This news release contains forward-looking statements that involve
risks and uncertainties. These include but are not limited to the
cyclical nature of the commercial aerospace industry, chemical
processing, oil and gas industries, uncertain defense spending, and the
competitive market for specialty metals. Other risks and uncertainties
have previously been included in the Company's filings with the
Securities and Exchange Commission, copies of which are available from
the SEC or from RTI Investor Relations.
RTI International Metals, Inc., headquartered in Niles, Ohio, through
its various subsidiaries, manufactures and distributes titanium and
specialty metal mill products, and extruded shapes, as well as
engineered systems for energy-related markets and environmental
engineering services. The Company's products are used for aerospace,
industrial, military, and consumer applications.
###
