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RTI International Metals and Titanium Industries Announce the Closing of the Sale of RTI Pierce Spafford

  RTI International Metals and Titanium Industries Announce the Closing of the
  Sale of RTI Pierce Spafford

Business Wire

PITTSBURGH -- April 30, 2013

RTI International Metals, Inc. (NYSE: RTI), and Titanium Industries, Inc.,
today announced they have closed on the sale of RTI’s wholly-owned subsidiary,
Pierce-Spafford Metals Company, Inc. (RTI Pierce Spafford), to Titanium
Industries for approximately $12.5 million in cash. 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, “This divestiture
is expected to enhance the strategic focus of RTI’s resources on titanium mill
products and downstream engineered products and services. The employees at
Pierce Spafford have been valued and consistent contributors to the success of
RTI since we acquired the business 15 years ago. 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.’s
growing 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.”

FBR Capital Markets & Co. acted as financial advisor to RTI, and Buchanan
Ingersoll & Rooney PC acted as RTI’s legal advisor. Day Pitney LLP acted as
the legal advisor to Titanium Industries.

Company Descriptions

RTI International Metals, Inc., headquartered in Pittsburgh, specializes in
advanced titanium, meeting the requirements of the world's most
technologically sophisticated applications in commercial aerospace, defense,
propulsion, energy, industrial, chemical, and medical markets. For over 60
years, RTI has been taking titanium further through advanced manufacturing,
engineering, machining, and forming processes. RTI delivers titanium mill
products, extruded shapes, form-ready parts, and highly engineered components
through our downstream integrated supply chain. 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.

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 to learn more.

RTI 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, the impact of global events on the commercial
aerospace industry, the impact from Boeing 787 production delays, military
spending generally and demand from the Joint Strike Fighter program, actual
build-rates, production schedules and titanium content per aircraft for
commercial and military aerospace programs, the competitive nature of the
markets for specialty metals, the ability of RTI to obtain adequate raw
materials, the successful integration of our recent acquisitions, global
economic conditions, the successful completion of RTI’s capital expansion
projects, 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, 2012, and the exhibits
attached to those filings. 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.

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Contact:

RTI International Metals, Inc.
Dan Crookshank, 412-893-0084
Director - Investor Relations
dcrookshank@rtiintl.com
or
Titanium Industries, Inc.
Jeff Wise, 303-220-5434
Vice President - Sales and Marketing
jwise@titanium.com
 
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