PITTSBURGH — April 30, 2013 — Titanium Industries, Inc., today announced they have closed on the sale of RTI’s wholly-owned subsidiary, Pierce-Spafford Metals Company, Inc. Pierce Spafford is a full-service stocking distributor of specialty metals serving customers in the aerospace, defense, oil and gas, power generation, and general industrial markets.
RTI’s flat rolled titanium products distribution business – RTI Los Angeles – which is currently co-located with Pierce Spafford is not affected by the sale, but intends to relocate to an alternative site in the Los Angeles area. Dawne S. Hickton, Vice Chair, President and CEO of RTI said, “We believe this transaction with Titanium Industries is a great opportunity to transfer a well-performing asset to an organization that will further enhance its growth potential going forward.” Brett S. Paddock, President and CEO of Titanium Industries said, “We welcome Pierce Spafford to T.I.’s global metals distribution and service center network. Pierce Spafford has a rich history of focused quality and customer service out of its impressive Garden Grove, California facility and will add a strategic line of distribution alloys and service capabilities to T.I.’sgrowing global operations. We’re confident that this relationship will provide strong benefits throughout both organizations, as well as to our collective, diverse customer and vendor base.”
Titanium Industries, Inc. (T.I.), headquartered in Rockaway, NJ, is a global leader in performance metal solutions for the aerospace, medical, industrial and oil & gas markets. Holding a complete inventory of performance metals across its 18 location global service center network, T.I. delivers supply chain solutions at all levels of sophistication and complexity. With a globally experienced and technically driven team, T.I. has been providing dependable, quality driven solutions to customers since 1972.
Please visit www.titanium.com and www.pierce-spafford.com to learn more.
Titanium Industries, Inc. Jeff Wise, Vice President – Sales and Marketing 303-220-5434 email@example.com