RTI to build titanium sponge plant in Mississippi( 18 Sept 2007 )

Specialty metals company RTI International Metals Inc. said Monday it plans to build a titanium sponge plant in Mississippi.

RTI said the projected cost of the Hamilton, Miss., facility and related expansions is $300 million, which is in addition to the company's previously announced $100 million facilities expansion.

The plant will have a total annual production capacity of up to 20 million pounds of titanium sponge. Operations are expected to begin in 2010 and ramp up over time, the company said.

Engineering design and planning for the plant is near completion, and RTI said it expects to begin construction in the fourth quarter.

RTI shares rose $1.20 to $66.75 in aftermarket trading, after falling 51 cents to $65.55 in the regular session. – Associated Press