PITTSBURGH--(BUSINESS WIRE)--Snecma (Safran) and RTI International Metals, Inc. (NYSE: RTI) announced today that they have signed a long-term agreement under which RTI will provide titanium aluminide alloy (TiAl) material for the new CFM International* LEAP engine. The LEAP – Leading Edge Aviation Propulsion – engine was launched by CFM International in 2008, to power the next generation of single-aisle commercial jets.
RTI will be a major supplier of Snecma’s TiAl requirements for the production of LEAP engine low-pressure turbine blades, for which mass production is starting from 2016.
“Our selection of RTI, who is known for providing innovative and reliable titanium alloy solutions, is a result of our close and ongoing collaboration,” said Etienne Galan, Purchasing Vice President at Snecma. “We are very pleased to welcome RTI to our supplier partner team which is committed to meeting the challenge of producing the technologically-advanced LEAP engine at the same record production rates as it predecessor, the CFM56, with 1,800 expected to be produced in 2019.”
“We’re delighted to be selected by Snecma as a key long-term supply partner for their most advanced, single-aisle commercial jet engine,” Dawne Hickton, Vice Chair, President and CEO of RTI, said. “Industrializing the TiAl alloy has been an area of focus of RTI’s Advanced Innovation and Technology team for a number of years. Through these efforts, and effective collaboration with the team at Snecma, we’re excited for the LEAP engine to be this innovative material’s launch platform. We look forward to partnering with Snecma and other members of their supply-chain team to provide the operational efficiencies promised by the LEAP engine. Depending on the ultimate number and timing of aircraft and engine deliveries, RTI anticipates total revenues in excess of $100 million.”
The TiAl alloy is a new-generation material with outstanding qualities. Able to withstand very high temperatures, its use will substantially reduce the weight of a low-pressure turbine blade compared with nickel-based alloy materials traditionally used in their production. As part of the new LEAP engine, this alloy will be used for the first time on a single-aisle commercial jet. It will contribute to the excellent performance of this new engine, which offers 15% lower fuel consumption than the most efficient engines now in service.
* The CFM56 and LEAP engines are produced and marketed by CFM International, a 50/50 joint company between Snecma (Safran), France, and GE of the United States.
Forward Looking Statement
All statements in this release relating to matters that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected, anticipated or implied. These risks and uncertainties include, but are not limited to, actual commercial aircraft and engine program build-rates, production schedules, and titanium content per program, our ability to transition to full-rate production as the LEAP program does, the competitive nature of the markets for specialty metals, the successful completion of RTI’s capital expansion projects, global economic and political uncertainties, and other risks and uncertainties described and included in RTI’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2013, and the exhibits attached thereto. Actual results can differ materially from those forecasted or expected. The information contained in this release is qualified by and should be read in conjunction with the statements and notes filed with the Securities and Exchange Commission on Forms 10-K and 10-Q, as may be amended from time to time. The forward-looking statements in this document are intended to be subject to the safe harbor protection provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. RTI undertakes no obligation to update or revise any forward-looking statements.
About RTI International Metals
RTI International Metals, Inc. is a leading vertically integrated global supplier of advanced titanium and specialty metal products and services to commercial aerospace, defense, energy, medical device and other customers. For more than 60 years, RTI has been taking titanium further through advanced manufacturing, engineering, machining, and forming processes. RTI delivers titanium mill products, extruded shapes, formed and 3D-printed parts, and highly engineered precision-machined components through our downstream integrated supply chain.
Headquartered in Pittsburgh, Pa., RTI has locations in the United States, Canada, Europe, and Asia. To learn more about RTI International Metals, Inc., visit our website at www.rtiintl.com.
