It was forced to slash costs and reduce its overhead. Now that the aerospace market has turned around, RMI wants to broaden its base and avoid that kind of cyclical downturn again. Last year, about 76 percent of RMI's sales were to commercial and military aerospace companies. Titanium goes into aircraft bulkheads, tail sections, wing supports, rotor blades and other aerospace components. The company touts titanium as an alloy that can be used for many products now served by steel and other alloys.
Titanium is about half the weight of steel, but twice as flexible.
It can withstand high temperatures and doesn't corrode easily. It's also pricier than many other alloys. So finding new markets can be a challenge. Perhaps the most promising market is in oil and gas production. RMI supplied titanium for drilling risers in the North Sea, and believes that other offshore oil-drilling operations could follow.