Platts reported that RTI International Metals is delaying its expansion projects by up to a year in light of the current economic uncertainties and the overall short term softening in demand for titanium.

RTI International now expects its expansion projects to be operational in 2011 to mirror current market demand and anticipates that the majority of its capital expenditures related to these facilities will occur in late 2009 and throughout 2010.

It had initially planned to open two new facilities, a forging and rolling plant in Virginia and a sponge plant in Mississippi, in 2010. Its titanium group posted operating income of USD 11.9 million on sales of USD 85.3 million in the third quarter, including inter segment sales of USD 35.9 million. This performance declined compared with Q3 2007, which had sales of USD 110.4 million, including inter segment sales of USD 41.8 million and operating income of USD 25.9 million.

Mill product shipments for the third quarter were 3.4 million pound at an average realized price of USD 23.04 per pound. RTI's average realized price was 14% lower versus the same quarter in the prior year, primarily due to the change in the sales mix and increased sales related to long term supply agreements.

For the first nine months of 2008, the titanium group posted operating income of USD 58.7 million on sales of USD 283.5 million, including inter segment sales of USD 126.6 million. For the same period in 2007, operating income was USD 68.9 million on sales of USD 320.3 million, including inter segment sales of USD 135.8 million.

RTI continues to expect mill product shipments for 2008 to range between 14 million and 15 million pound and total sales to come in slightly lower than 2007.