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. RMI says titanium piping is much lighter than many metals. That's an important selling point because the more weight that a platform has to support, the larger and more expensive it must be.
Some analysts believe the outlook for titanium is good.
In 1996, RMI's remarkable turnaround put it in first place in the Beacon Journal's top 50 companies in Northeast Ohio. Last year, RMI continued to build on its recovery. It posted profit growth of 89 percent and return on equity of 26.7 percent. The company dropped slightly in this year's Beacon Journal rankings, from first place to second. Company officials say they believe they can sustain their turnaround.