The deal is expected to enhance RTI's ability to deliver advanced, cost-effective titanium and other advanced material solutions.
RTI International Metals has announced it has acquired additive manufacturing company Directed Manufacturing.
Directed Manufacturing is based in Austin, Texas, and has a laser and metal sintering facility with expertise in direct metal laser sintering (DMLS), stereolithography, Pro CAST RTV tooling, hybrid tooling and injection moulding for metal and plastic components, production parts and prototypes.
This acquisition moves RTI into the flourishing additive manufacturing space, allowing it to deliver advanced solutions for customers in the aerospace, engineering and medical sectors. The deal is worth $23 million (£14 million, €16.7 million) in cash and is expected to enhance RTI's ability to deliver advanced, cost-effective titanium and other advanced material solutions to its wide range of customers.
After the acquisition is complete, Directed Manufacturing will become RTI Directed Manufacturing and will be the flagship organisation in RTI's Advanced Additive product line. It produces complex products using titanium, nickel-chromium alloys and other specialty metals and composite plastics.
Directed Manufacturing currently manufactures products that include aerospace airfoils, rakes, guide vanes and injection nozzles, complex fasteners, surgical tools, medical implants, injection mould inserts and many others. It is one of the few companies in the fast-growing Additive Manufacturing field with commercial production experience in both metals and plastics. The company's customers include a number of major aerospace industry prime contractors and suppliers.
Dawne Hickton, Vice Chair, President and CEO of RTI, stated: "We are very excited to welcome Directed Manufacturing to RTI. We believe its technology, track record of profitable commercial production, proven quality, performance and base of established customers immediately puts RTI at the forefront of additive manufacturing and 3D printing – the technology that is rapidly expanding its influence on global manufacturing.
"The growth potential for Additive Manufacturing solutions in RTI's and Directed Manufacturing’s markets is truly exceptional. We look forward to maximising the commercial opportunities that the new capabilities of our latest acquisition will generate, particularly on the most advanced new commercial aircraft and engine platforms, as well as medical device applications. We are also anxious to pursue opportunities with businesses in other market segments that are seeking the cost effectiveness of near-net-shape production that Directed Manufacturing's 3D printing capability delivers."
"We are delighted to combine our company with RTI. Its existing capabilities, financial strength, strong market presence and global footprint make it the perfect partner for Directed Manufacturing to continue and accelerate our progress as we move forward together," added Alex Fima, Founder of Directed Manufacturing.
The acquisition builds on more than two years of RTI research, development and other participation in the field of additive manufacturing as part of its strategic plan. These activities include collaboration with a major commercial aerospace OEM on prototype powder metal parts for advanced design aircraft. RTI is also a founding sponsor of the National Additive Manufacturing Innovation Institute (NAMII) - recently rebranded America Makes - a joint effort of the federal government and industry based in Youngstown, Ohio.