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4-20-01....Titanium Metal Corp. (Timet) and Boeing Co. have settled a lawsuit in which Timet will receive between $60 million and $65 million from Boeing Co. The lawsuit was filed about 1 year ago with Timet asking for $600 million in damages alleging that Boeing had broken a long-term metal supply agreement by demanding that the agreement be re-negotiated. The two companies also announced a new agreement that allows Boeing to buy up to 7.5 million pounds of titanium annually from Timet through the year 2007.
4-15-01....Boeing Co. and the Russian Aviation and Space Agency recently signed a broad agreement which includes cooperation on space launches, development of a new short-range jetliner to be used in Russia, commercial space research, Boeing's purchases of Russian titanium and other products, and the development of Russian polar air routes. For more information see Yahoo news.
4-5-01...Negotiators for the United Steelworkers of America and several subsidiary's of Allegheny Technologies Inc. (Including Allegheny Ludlum, Wah Chang and Oremet) announced they have reached a tentative six-year agreement covering approximately 4,900 employees of these subsidiaries. Allegheny Technologies Incorporated is one of the largest and most diversified specialty materials producers (including titanium and titanium alloys production) in the world. If ratified the agreement will be in effect through June 30, 2007. For more information see Yahoo News.
3-16-01....Mayflower Aerospace and Rail Systems has acquired Trim Engineering Ltd from Compass Aerospace Inc. (USA) for a consideration of 38 million pounds sterling. Trim Engineering, which operates in Wrexham, Poole and South London is a leading provider of large, complex machined aluminum and titanium wing components to Airbus in Bristol, North Wales and to Shorts Brothers in Belfast. Trim reported revenues of 32m pounds for year 2000 with operating profits of 4.6m pounds.
2-26-01....Avcorp Industries Inc., a Canadian aerospace component manufacturer, announced the signing of a major "life of program" contract to supply Cessna Aircraft (a Subsidiary of Textron Inc.) with aerostructure assemblies for Cessna's new "Sovereign" corporate business jet. The contract is worth over $100 million (Canadian dollars) and contains the fabrication of various metal components including the Sovereign's aft wing spar titanium flap track. For more details see Yahoo news.
2-15-01….Emerging Vision has signed an agreement to provide the Internet/online services/technology for Aoyama USA, a subsidiary of Aoyama Group. Aoyama Group is a leading manufacturer of quality frames and sunglasses. The company is known worldwide for quality, design and 100% pure titanium frames. For more information see Yahoo news.
2-7-01....Russian titanium producer VSMPO (Verkhnaya Salda Metallurgical Production Association) plans to raise semi-fabricated titanium exports from 7,860 tons (year 2000 export total) to 12,000 tons. Titanium exports might rise to 15,000 tons by 2005. In addition, last month VSMPO said it has plans to raise its share of ownership in AVISMA, Russia's sole producer of titanium sponge from 75.18 % to 100% ownership by the year 2002. For more details see Yahoo news.
2-7-01…RTI International Metals, Inc. announced recent orders from oil and gas markets have increased the backlog for their energy business unit (RTI Energy Systems Inc.) to over $20 million. The recent volatility in the energy markets may sustain demand for these services. The titanium products supplied include titanium stress joints, subsea manifolds, riser systems and connectors for offshore, deepwater exploration applications. RTI’s customer base includes BP (British Petroleum), Shell, McDerrmott, Kerr McGee, Aker and Mariner Energy. For more information see Yahoo News.
2-7-01...Pacific Aerospace & Electronics, Inc’s European subsidiary Aeromet International plc has been awarded a multi year contract worth about $23 million to manufacture a variety of superplastic formed titanium sheet components for the Airbus A340 aircraft program. Aeromet is a leading European provider of superplastic-formed titanium structures. For more information see Yahoo news.
Click on the first letter of the companies name that you are researching. For example, click on "A" for a review of events about Airbus Industries.
A Aerojet AeroMet Corporation Aeromet International PLC AHF Ducommun Inc.
Airbus Industries Alcoa Inc Allegheny Technologies Incorporated Altair International Inc
Allvac Aoyama Group ArvinMeritor, Inc. Avcorp Industries Inc
B BAE Systems Barnes Group Inc. The Boeing Company
C Cessna Aircraft Cordant Technologies
D Dowty Aerospace Division Ducommun Inc.
E Ellanef Manufacturing Corporation
H Howmet Castings Huck Fasteners
M Magellan Aerospace Corporation MaterialNet, Inc Memry Corporation
P Pacific Aerospace & Electronics, Inc. Parsons Precision Products Precision Castparts Corp.
R Raychem RTI International Metals
S Sparta Surgical Corporation Sports Trend.Info
T Textron Inc TI Group PLC Timet Metals Corporation Titanium Corporation of Canada
9-29-00….Boeing has awarded Aerojet a $15.1 million contract for the production of forward booms for the aft fuselage of the F-22 Raptor fighter aircraft. The Air Force plans to order 339 shipsets of the F-22 aircraft with deliveries/deployment beginning in 2005 through 2013. Aerojet produces The F-22’s forward boom by using a unique electron beam welding process to fuse titanium components together. This process allows the boom to be designed and built incorporating complex features and precise tolerances without the need for bolts and fasteners. For more information see Yahoo news.
3-28-00….AeroMet Corporation, subsidiary of MIS Systems Corporation announced it has received approximately $1 million dollars of orders from The Boeing Company to provide test articles for a cost reduction initiative for the Navy’s F/A-18 E/F aircraft wings. The wing program incorporates several large titanium components to be fabricated by AeroMet’s laser forming "direct, rapid fabrication" technology. Production of the wing components is expected to begin in early 2001. For more information see Yahoo News.
Aeromet International PLC
2-7-01...Pacific Aerospace & Electronics, Inc’s European subsidiary Aeromet International plc has been awarded a multi year contract worth about $23 million to manufacture a variety of superplastic formed titanium sheet components for the Airbus A340 aircraft program. Aeromet is a leading European provider of superplastic-formed titanium structures. For more information see Yahoo news.
6-1-00….Aeromet International plc, a subsidiary of Pacific Aerospace & Electronics has been awarded several new supplier contracts for formed titanium and cast aluminum components and assemblies. The value of these contracts total about $6 million and include the production of components/assemblies for the Typhoon/Euro-fighter, the Apache helicopter, trailing edge/bulkhead parts for the Boeing 737, and oil cooler & fuel pump jet engine parts for Airbus and Boeing aircraft. For more information see Yahoo news.
2-28-00…..Pacific Aerospace & Electronics Inc.’s subsidiary Aeromet International PLC, has won several new supplier contracts with an approximate value of $11.5 million. A portion of the new contracts are for titanium assemblies including "titanium bulkhead flanges for the Pratt & Whitney PW6000 engine nacelle, which has been selected to power the new Airbus A318 and orders from BF Goodrich for nacelle components for the International Aero Engines consortium V2500 jet engine." For more details see Yahoo News.
2-9-00……Pacific Aerospace & Electronics, Inc. announced that their subsidiary, Aeromet International PLC, located in the U.K., has secured two long term contracts (Aermacchi's Jet Engine Nacelle assembly, mainly for Airbus engines, and the Eurofighter Aft Engine Cowl Door assembly) to produce titanium sheet component assemblies for Aermacchi of Italy . The contracts are valued at about $40 million with the majority of the requirements to be produces by Aeromet's superplastic forming skills and chemical milling expertise. For more information see Yahoo News.
AHF Ducommun Incorporated
11-10-99….Ducommun Incorporated announced it has acquired the assets of Parsons Precision Products, Inc. located in Parsons, Kansas. Parsons was a subsidiary of Jordan Industries, Inc. and is a leading manufacturer of hot formed titanium products for both commercial and military aerospace markets. Sales for Parsons’ year (ending Sept 30,1999) exceeded $13 million. The Parsons facility will remain where it is and Parsons’ management will report through AHF Ducommun Incorporated, an existing Ducommun Incorporated subsidiary. AHF Ducommun Incorporated, "designs, engineers and manufactures large, complex components using stretch-forming and hot forming processes and computer-controlled machining in aluminum, titanium and other exotic metals" for the aerospace industry.
Airbus Industries
02-11-00....Airbus Industire has reported a record year (1999) for annual deliveries and total backlog. New orders were down from 1998 but still considered a strong showing for a slower year in the aircraft business. The aircraft manufacturing consortium booked firm orders for 476 new aircraft in 1999 with a total sales of $30.5 Billion. The year-end backlog finished at 1445 aircraft worth approximately $100 Billion. Airbus delivered 294 aircraft in 1999, a 28% increase over last year's 1998 previous record shipments. The results taken in table form are as follows:
| 1997 | 1998 | 1999 | |
| # Of Aircraft ordered (firm) | 460 Shipsets | 556 Shipsets | 476 Shipsets |
| Value of new orders (firm) | $29.6 Billion | $39.0 Billion | $30.5 Billion |
| # Of Aircraft Delivered | 182 Shipsets | 229 Shipsets | 294 Shipsets |
| Value of Backlog | N/A | $92.7 Billion | $100 Billion |
| Total Deliveries | 1894 Shipsets | 2188 shipsets |
10-28-99.....Airbus Industries has announced a very strong October month of orders further extending its lead over U.S. competitor Boeing Company. For the first nine months of 1999 Airbus said it has signed orders for 343 aircraft, which includes 64 widebodies. Boeing had announced for the same 9 months a total of 154 signed orders of which 35 are widebodies. Airbus is a European consortium made up of DaimlerChryser AG unit Dasa, Aerospatiale Matra of France, British Aerospace Plc and the state-owned Spanish business Casa. This consortium is one of the worlds largest consumers of titanium mill products.
01-11-99....Airbus Industire has reported a record year (1998) for new orders, annual deliveries and total backlog. The aircraft manufacturing consortium booked firm orders for 556 new aircraft in 1998 with a total sales of $39.0 Billion, both new records. The year-end backlog finished at 1309 aircraft worth approximately $92.7 Billion. Airbus delivered 229 aircraft in 1998, a 26% increase over 1997 shipments. The results taken in table form are as follows:
| 1997 | 1998 | |
| # of Aircraft ordered (firm) | 460 Shipsets | 556 Shipsets |
| Value of new orders (firm) | $29.6 Billion | $39.0 Billion |
| # of Aircraft Delivered | 182 Shipsets | 229 Shipsets |
| Value of Backlog | N/A | $92.7 Billion |
| Total Deliveries | 1894 Shipsets |
Alcoa Inc
3-14-00…..Alcoa Inc. Announced they will acquire Cordant Technologies Inc., a technology based company serving global aerospace and industrial markets. With this merger, Alcoa will acquire three market leading business groups. Among them are Howmet Castings, a leading supplier of investment cast metal components to both aerospace and industrial, including super-alloy, aluminum and titanium castings. Howmet employees approximately 10,800 with 1999 revenues of $1.4 billion. Also included is Huck Fasteners a worldwide design and manufacturer of high performance (including titanium) fasteners, with an employment level of approximately 2,500 and 1999 revenues of $465.2 million. The third business group is Thiokol Propulsion, a leading supplier of rocket propulsion systems with employment of approximately 3,800 and 1999 revenues of $588 million. For more information see Yahoo News.
Allegheny Technologies Incorporated
4-5-01...Negotiators for the United Steelworkers of America and several subsidiary's of Allegheny Technologies Inc. (Including Allegheny Ludlum, Wah Chang and Oremet) announced they have reached a tentative six-year agreement covering approximately 4,900 employees of these subsidiaries. Allegheny Technologies Incorporated is one of the largest and most diversified specialty materials producers (including titanium and titanium alloys production) in the world. If ratified the agreement will be in effect through June 30, 2007. For more information see Yahoo News.
7-19-00… Allvac said it will raise prices on titanium, nickel and specialty steel products from 8 to 10 percent effective immediately. Allvac, a division of Allegheny Technologies Incorporated, operates eight manufacturing facilities in the United States and Europe.
5-2-00…Allegheny Technologies Incorporated joins seven other leading metals companies to form MetalSpectrum, an independent neutral online site to serve a variety of markets throughout the supply and demand chain of a $200 billion global specialty metals industry. These seven initial partners include Allegheny, Alcoa Inc., Kaiser Aluminum, North American Stainless, Olin Corporation, Reynolds Aluminum Supply Company, Thyssen Inc., and NA and Vincent Metal Goods/Atlas ideal Metals. The site has identified a comprehensive group of specialty metals to include aluminum, stainless steel, copper, brass, nickel, and titanium products. The plan is to have the site up and running in September this year. Major goals for MetalSpectrum are to reduce costs and increase market opportunity for both the supply and demand sides of the chain. The online site will include a Prime Metals Catalog (with searching capabilities), an MRO catalog, forward and reverse auctions, and eventually support transaction processes with financing, logistics, and reporting services. For more details see Business Wire News or Yahoo News.
11-30-99.…Allegheny Technologies Incorporated has announced the completion of the previously announced spin-offs of Teledyne Technologies Incorporated and Water Pik Technologies, Inc. The spin-off completion transforms Allegheny Technologies Inc. into a more focused world-wide leader and producer of specialty metals including titanium metal products. As a result of the spin-offs Allegheny Technologies now consists of the following operating units:
For more details about this announcement see Yahoo News .
Altair International Inc
10-25-99......Altair International Inc announced the amendment of the Shareholder Rights Plan to ensure that shareholders are "protected from unfair, abusive or coercive takeover tactics". The company is the leasehold owner of a large titanium/zircon deposit in Tennessee. For more information about this announcement see Yahoo news and PR Newswire.
7-19-00… Allvac said it will raise prices on titanium, nickel and specialty steel products from 8 to 10 percent effective immediately. Allvac, a division of Allegheny Technologies Incorporated, operates eight manufacturing facilities in the United States and Europe.
Aoyama Group
2-15-01….Emerging Vision has signed an agreement to provide the Internet/online services/technology for Aoyama USA, a subsidiary of Aoyama Group. Aoyama Group is a leading manufacturer of quality frames and sunglasses. The company is known worldwide for quality, design and 100% pure titanium frames. For more information see Yahoo news.
ArvinMeritor, Inc.
7-10-00…ArvinMeritor, Inc., the newly created company formed by the merger of Arvin Industries, Inc., and Meritor Automotive, Inc., begins operations today as a $7.5 Billion global automotive supplier. The newly formed company includes among it’s vast product line, the first mass-market automotive titanium exhaust system for the 2001 Corvette Z06. The titanium exhaust system was developed by Arvin Industries, Inc. and General Motors.
Avcorp Industries Inc.
2-26-01....Avcorp Industries Inc., a Canadian aerospace component manufacturer, announced the signing of a major "life of program" contract to supply Cessna Aircraft (a Subsidiary of Textron Inc.) with aerostructure assemblies for Cessna's new "Sovereign" corporate business jet. The contract is worth over $100 million (Canadian dollars) and contains the fabrication of various metal components including the Sovereign's aft wing spar titanium flap track. For more details see Yahoo news.
10-3-00….RTI International Metals, Inc. has been awarded a contract to supply titanium components for the new XM-777 lightweight 155 mm Howitzer. The award was made by BAE Systems RO Defense, UK. Titanium deliveries begin in 2001. It is anticipated that over 800 of these guns will be produced from 2003- 2010. Customers include the US Army, the US Marines, the Italian and British armed forces. If the full complement of guns are produced this contract could exceed $100 million US dollars.
Barnes Group Inc.
8-4-00…..Barnes Group Inc. announced it has signed an agreement to acquire the manufacturing assets of Kratz-Wilde Machine Company and Apex Manufacturing from Aviation Sales Company for $41million (subject to adjustment). The combined 1999 sales volume of these two companies was approximately $44 million. Both companies specialize in the fabrication and machining of complex aerospace components made of complex materials such as titanium and inconel. Some of these components include small lever arms, honeycomb shrouds, metal seals, and fuel nozzle shrouds. For more information see Yahoo news.
The Boeing Company
4-20-01....Titanium Metal Corp. (Timet) and Boeing Co. have settled a lawsuit in which Timet will receive between $60 million and $65 million from Boeing Co. The lawsuit was filed about 1 year ago with Timet asking for $600 million in damages alleging that Boeing had broken a long-term metal supply agreement by demanding that the agreement be re-negotiated. The two companies also announced a new agreement that allows Boeing to buy up to 7.5 million pounds of titanium annually from Timet through the year 2007.
4-15-01....Boeing Co. and the Russian Aviation and Space Agency recently signed a broad agreement which includes cooperation on space launches, development of a new short-range jetliner to be used in Russia, commercial space research, Boeing's purchases of Russian titanium and other products, and the development of Russian polar air routes. For more information see Yahoo news.
9-29-00….Boeing has awarded Aerojet a $15.1 million contract for the production of forward booms for the aft fuselage of the F-22 Raptor fighter aircraft. The Air Force plans to order 339 shipsets of the F-22 aircraft with deliveries/deployment beginning in 2005 through 2013. Aerojet produces The F-22’s forward boom by using a unique electron beam welding process to fuse titanium components together. This process allows the boom to be designed and built incorporating complex features and precise tolerances without the need for bolts and fasteners. For more information see Yahoo news.
6-5-00…..Boeing Co. has signed strategic cooperation agreements with two Russian companies, one being titanium-mill product producer VSMPO (Verkhnaya Salda Metallurgical Association). The agreements have no monetary components but are intended to develop a legal and business structure for strategic partner relationships for further cooperation between Boeing and these companies. The VSMPO plan includes R&D work on better alloys and applications of titanium and could include more titanium components in aircraft and spacecraft. VSMPO has previously signed a 6 year deal with Boeing (valued at $250 million) to supply about 20% of Boeing's commercial titanium mill product needs. For more information see Yahoo News.
4-6-00…RTI International Metals announced that the Boeing Commercial Airplane Group has agreed to pay RTI $6 million in settlement costs over Boeings inability to satisfy their 1999 contractual commitments to RTI. According to one of the conditions of the long-term contract, the Boeing Commercial Airplane Group was required to order a minimum of 3.25 million pounds of titanium from RTI during 1999. However, total shipment volume to this Boeing group was under 1 million dollars. For more information see Yahoo news.
3-22-00…..Timet Metals Corporation announced it has filed a lawsuit against The Boeing Company for "repudiation and breach of the long-term titanium purchase and supply agreement between the two companies". Timet is seeking damages in excess of $600 million. The long-term (10 year) agreement was entered into in 1997 and specified minimum purchase quantities of titanium products for each of the ten years.
Cessna Aircraft
2-26-01....Avcorp Industries Inc., a Canadian aerospace component manufacturer, announced the signing of a major "life of program" contract to supply Cessna Aircraft (a Subsidiary of Textron Inc.) with aerostructure assemblies for Cessna's new "Sovereign" corporate business jet. The contract is worth over $100 million (Canadian dollars) and contains the fabrication of various metal components including the Sovereign's aft wing spar titanium flap track. For more details see Yahoo news.
Cordant Technologies
3-14-00…..Alcoa Inc. Announced they will acquire Cordant Technologies Inc., a technology based company serving global aerospace and industrial markets. With this merger, Alcoa will acquire three market leading business groups. Among them are Howmet Castings, a leading supplier of investment cast metal components to both aerospace and industrial, including super-alloy, aluminum and titanium castings. Howmet employees approximately 10,800 with 1999 revenues of $1.4 billion. Also included is Huck Fasteners a worldwide design and manufacturer of high performance (including titanium) fasteners, with an employment level of approximately 2,500 and 1999 revenues of $465.2 million. The third business group is Thiokol Propulsion, a leading supplier of rocket propulsion systems with employment of approximately 3,800 and 1999 revenues of $588 million. For more information see Yahoo News.
Dowty Aerospace Division
5-16-00...TI Group PLC, Based in the United Kingdom, announced that it's Dowty Aerospace Division will benefit from the UK's government decision to lease 4 of Boeing's C-17's and purchase 25 of the Airbus A400M aircraft. From a separate contract, Dowty will now supply titanium tubular systems for the C-17 program, a result of Boeing's decision to outsource "all tube and duct assemblies throughout the cargo plane." The Dowty Aerospace division is made up of over 35 facilities throughout Europe and North America and specializes in "hydraulics, actuators, turbine engine components, aero structures, tubular systems, and propellers for the world's aerospace industry." For more information see Yahoo News.
Ducommun Incorporated
11-10-99….Ducommun Incorporated announced it has acquired the assets of Parsons Precision Products, Inc. located in Parsons, Kansas. Parsons was a subsidiary of Jordan Industries, Inc. and is a leading manufacturer of hot formed titanium products for both commercial and military aerospace markets. Sales for Parsons’ year (ending Sept 30,1999) exceeded $13 million. The Parsons facility will remain where it is and Parsons’ management will report through AHF Ducommun Incorporated, an existing Ducommun Incorporated subsidiary. AHF Ducommun Incorporated, "designs, engineers and manufactures large, complex components using stretch-forming and hot forming processes and computer-controlled machining in aluminum, titanium and other exotic metals" for the aerospace industry.
Ellanef Manufacturing Corporation
11-17-99….Magellan Aerospace Corporation recently announced that Ellanef Manufacturing Corporation (a division of Magellan Aerospace Corporation) has reached an agreement with Northrop Grumman to supply key structural components including machined titanium bulkheads and engine mounts for the full rate production phase of the F/A-18 E/F Super Hornet strike fighter. First deliveries for the agreement begin in early 2000 and along with four option quantities could extend the shipments to 2004.
Howmet Castings
3-14-00…..Alcoa Inc. Announced they will acquire Cordant Technologies Inc., a technology based company serving global aerospace and industrial markets. With this merger, Alcoa will acquire three market leading business groups. Among them are Howmet Castings, a leading supplier of investment cast metal components to both aerospace and industrial, including super-alloy, aluminum and titanium castings. Howmet employees approximately 10,800 with 1999 revenues of $1.4 billion. Also included is Huck Fasteners a worldwide design and manufacturer of high performance (including titanium) fasteners, with an employment level of approximately 2,500 and 1999 revenues of $465.2 million. The third business group is Thiokol Propulsion, a leading supplier of rocket propulsion systems with employment of approximately 3,800 and 1999 revenues of $588 million. For more information see Yahoo News.
Huck Fasteners
3-14-00…..Alcoa Inc. Announced they will acquire Cordant Technologies Inc., a technology based company serving global aerospace and industrial markets. With this merger, Alcoa will acquire three market leading business groups. Among them are Howmet Castings, a leading supplier of investment cast metal components to both aerospace and industrial, including super-alloy, aluminum and titanium castings. Howmet employees approximately 10,800 with 1999 revenues of $1.4 billion. Also included is Huck Fasteners a worldwide design and manufacturer of high performance (including titanium) fasteners, with an employment level of approximately 2,500 and 1999 revenues of $465.2 million. The third business group is Thiokol Propulsion, a leading supplier of rocket propulsion systems with employment of approximately 3,800 and 1999 revenues of $588 million. For more information see Yahoo News.
9-5-00…Ladish Co., Inc. has announced a 10-12 million dollar capital investment for increased production capacity at it’s Pacific Cast Technologies, Inc. ("PCT") subsidiary located in Albany, Oregon. The investment will double the capacity of the PCT facility. Pacific Cast Technologies, Inc. supplies investment cast titanium parts for airframe, turbine engine, and aerospace structural applications. See Yahoo News for more details.
5-2-00...Ladish Company, Inc. announced the signing of two new exclusive agreements, one of which is for Ladish to Supply seamless titanium cylinders to Yuanchuang Copper Foil Equipment LTD of China. This supply agreement is firm through 2001 with an option to extend the agreement through 2004. These cylinders are used to produce a premium quality copper foil product that is increasingly in demand throughout the electronics industry. For more information see Yahoo news.
01-14-00.…Ladish Company announced it has finalized the acquisition of Wyman-Gordon Titanium Castings, LLC (located in Albany, Oregon) from the Wyman-Gordon Company. Ladish has renamed the company Pacific Cast Technologies, Inc. Pacific Cast currently employees about 225 people and is a "major supplier of precision, titanium components to both the domestic and the international aerospace markets." Ladish Company’s headquarters are in Cudahy, Wisconsin. Ladish has operations in Wisconsin, Connecticut and Oregon. With this acquisition Ladish Co. now provides casting, forging and finished machining operations to its customer base. For more details about this announcement see Yahoo news and Business Wire.
Magellan Aerospace Corporation
9-15-00…..Magellan Aerospace Corporation announced the receipt of two contracts from Northrop Grumman totaling $13.8 million. One of the contracts is for production of several structural components for the F/A-18E/F super Hornet fighter aircraft. The structural components include a combination of titanium bulkheads, spindles, engine mounts, and formers. Magellan's Ellanef facilities in Bohemia and Corona, New York will do this work. For more information see Yahoo News.
11-17-99….Magellan Aerospace Corporation recently announced that Ellanef Manufacturing Corporation (a division of Magellan Aerospace Corporation) has reached an agreement with Northrop Grumman to supply key structural components including machined titanium bulkheads and engine mounts for the full rate production phase of the F/A-18 E/F Super Hornet strike fighter. First deliveries for the agreement begin in early 2000 and along with four option quantities could extend the shipments to 2004.
MaterialNet, Inc
11-22-99…..MaterialNet, Inc., announced that it has signed agreements with 50 leading metal suppliers to offer their products through MaterialNet’s reverse-auction internet business-to-business marketplace, www.materialnet.com. Through this website, MaterialNet will enable "purchasers to easily reach the leading suppliers of aluminum, brass and copper, stainless steel, nickel, titanium, commercial and alloy steel, tool steel, lead, tungsten and iron." The website is currently in final beta testing.
Memry Corporation
2-28-00… Raychem has entered into a long-term sales agency agreement with Memry Corporation to market and distribute Memry’s Nitinol (a titanium-nickel alloy) products to both industrial and commercial markets. The markets include (among others) cellular telephone antennas, automotive components, eyeglass frames, and dental applications. Memry will hold direct Nitinol marketing and distribution rights for the medical devise industry. Nitinol is a memory shape alloy produced in the mill product forms of strip, wire and tube. For more information see Yahoo News.
10-21-99....Memry Corporation has been named among Connecticut's 50 Fastest-Growing Technology Companies for the second year in a row. The company provides fully integrated development and manufacturing services to the medical devise industry from facilities in Brookfield, Conn., Menlo Park, CA, and Herk-de-Stad Belgium. Their core capabilities include the design., development, and manufacture of nickel-titanium strip, wire and tube for a variety of medical devises and semi finished materials and components for industrial applications. For a more detailed report see Yahoo news and PR Newswire.
5-2-00…Allegheny Technologies joins seven other leading metals companies to form MetalSpectrum, an independent neutral online site to serve a variety of markets throughout the supply and demand chain of a $200 billion global specialty metals industry. These seven initial partners include Allegheny, Alcoa Inc., Kaiser Aluminum, North American Stainless, Olin Corporation, Reynolds Aluminum Supply Company, Thyssen Inc., and NA and Vincent Metal Goods/Atlas ideal Metals. The site has identified a comprehensive group of specialty metals to include aluminum, stainless steel, copper, brass, nickel, and titanium products. The plan is to have the site up and running in September this year. Major goals for MetalSpectrum are to reduce costs and increase market opportunity for both the supply and demand sides of the chain. The online site will include a Prime Metals Catalog (with searching capabilities), an MRO catalog, forward and reverse auctions, and eventually support transaction processes with financing, logistics, and reporting services. For more details see Business Wire News or Yahoo News.
NAR Resources LTD
8-10-99….Company Press release from NAR Resources LTD. NAR Resources in conjunction with the Titanium Corporation of Canada is pleased to announce that it has agreed to proceed with a viability study with Hoogovens Technical Services, a wholly owned subsidiary of Royal Hoogovens, a major Dutch steel and aluminum producer. Royal Hoogovens have recently announced a merger with British Steel PLC, making the resultant company the world’s third largest steel producer.
Titanium Corporation jointly with NAR is developing what is believed to be a world class mineral sands deposit 1 containing the titanium minerals; rutile, ilmenite, and leucoxene as well as magnetite and zircon. The deposit is situated in central Nova Scotia near Truro.
The viability study is focusing on introducing ilmenite (an iron and titanium mineral) as a raw mineral feedstock for the Sydney Steel facility in Cape Breton, Nova Scotia. The Nova Scotia government has retained Hoogovens to manage the provincially owned Sydney Steel operation (Sysco). Hoogovens is also working with the major Dutch Bank ABN-AMRO who has been commissioned by the Nova Scotia government to privatize Sydney Steel.
The agreement deals with the evaluation of a potential new source of raw material feedstock for Sysco. If the material is proved suitable for steel production in Sydney there are several distinct advantages which would be realized. Firstly, Sysco would have a preferential source of raw materials, which would come from a Nova Scotia source, thus giving the company a distinct competitive advantage. Secondly, Titanium Corporation and NAR would benefit from a processing arrangement, which would augment their anticipated titanium production.
The process under consideration involves locating a titanium slag facility at the Sysco site whereby two products would be generated, titanium slag and an iron byproduct. If a titanium slag facility were situated adjacent to the Sysco site it would allow the liquid iron byproduct to be used as a direct feed into the existing electric arc furnace. This offers a significant cost benefit for Sysco relative to the world market price for scrap or alternative virgin iron units and would contribute to a reduction in power and electrode consumption. Additionally, the titanium slag process generates significant quantities of fuel gas, which could be used directly by Sysco.
This scenario introduces a potentially positive outcome for Sysco, not only could it assist in the consortium’s effort to privatize the steel plant, but could also introduce profitable and long-term implications for Sysco.
A development-drilling program at the Mineral Sands Project is proceeding as scheduled with 300 holes having been drilled to date. Preliminary results are proving the merit of the deposit. Initial metallurgical test work conducted at MD Mineral Technology of Australia, Outokumpu-Carpco division in Florida and Lakefield Research of Ontario have yielded positive results. As a follow up to this initial work a three tonne sample has been shipped to Lakefield Research, where it is undergoing a detailed 18-week metallurgical test program.
1 Compared to published industry standards – Mineral Sands Annual Review.
Dated: August 10, 1999 Stock Symbol: NRL-ME ON BEHALF OF THE BOARD OF DIRECTORS (SIGNED) Leonard J. Taylor, President For further information, please contact: Kevin B. Forrest, Shareholder Relations Officer, Telephone: (416) 703- 2121 Fax: (416) 703- 9009
Pacific Aerospace & Electronics, Inc.
2-7-01...Pacific Aerospace & Electronics, Inc’s European subsidiary Aeromet International plc has been awarded a multi year contract worth about $23 million to manufacture a variety of superplastic formed titanium sheet components for the Airbus A340 aircraft program. Aeromet is a leading European provider of superplastic-formed titanium structures. For more information see Yahoo news.
2-28-00…..Pacific Aerospace & Electronics Inc.’s subsidiary Aeromet International PLC, has won several new supplier contracts with an approximate value of $11.5 million. A portion of the new contracts are for titanium assemblies including "titanium bulkhead flanges for the Pratt & Whitney PW6000 engine nacelle, which has been selected to power the new Airbus A318 and orders from BF Goodrich for nacelle components for the International Aero Engines consortium V2500 jet engine." For more details see Yahoo News.
2-9-00……Pacific Aerospace & Electronics, Inc. announced that their subsidiary, Aeromet International PLC, located in the U.K., has secured two long term contracts (Aermacchi's Jet Engine Nacelle assembly, mainly for Airbus engines, and the Eurofighter Aft Engine Cowl Door assembly) to produce titanium sheet component assemblies for Aermacchi of Italy . The contracts are valued at about $40 million with the majority of the requirements to be produces by Aeromet's superplastic forming skills and chemical milling expertise. For more information see Yahoo News.
Parsons Precision Products, Inc.
11-10-99….Ducommun Incorporated announced it has acquired the assets of Parsons Precision Products, Inc. located in Parsons, Kansas. Parsons was a subsidiary of Jordan Industries, Inc. and is a leading manufacturer of hot formed titanium products for both commercial and military aerospace markets. Sales for Parsons’ year (ending Sept 30,1999) exceeded $13 million. The Parsons facility will remain where it is and Parsons’ management will report through AHF Ducommun Incorporated, an existing Ducommun Incorporated subsidiary. AHF Ducommun Incorporated, "designs, engineers and manufactures large, complex components using stretch-forming and hot forming processes and computer-controlled machining in aluminum, titanium and other exotic metals" for the aerospace industry.
Precision Castparts Corp.
5-31-00…Precision Castparts Corp. announced a five year agreement with Rolls Royce to produce a range of titanium components for the AE 2100 engine (for C130J Hercules aircraft) and the AE3007 engine (for Embraer RJ-145, RJ-140, and RJ-135 aircraft) valued at more than $34 million dollars. Deliveries begin in October 2000 Among the products included in this agreement are center sumps and diffuser components. For more information see Yahoo News.
10-26-99...Precision Castparts Corp. and Wyman-Gordon Company announced they have executed an Agreement Containing Consent Orders with the Federal Trade Commission staff. Precision Castparts Corporation is pursuing a proposed $825 million dollar acquisition of Wyman-Gordon Company. The agreement will be submitted to the FTC for its approval. There are no assurances that the FTC will approve this agreement. Precision Castparts Corp. is a "worldwide manufacturer of complex metal components and products". Wyman-Gordon is a "leader in forgings, investment castings and composite structures". Both companies are major consumers of titanium mill products. For more details about this announcement see Yahoo news and Business Wire.
2-28-00… Raychem has entered into a long-term sales agency agreement with Memry Corporation to market and distribute Memry’s Nitinol (a titanium-nickel alloy) products to both industrial and commercial markets. The markets include (among others) cellular telephone antennas, automotive components, eyeglass frames, and dental applications. Memry will hold direct Nitinol marketing and distribution rights for the medical devise industry. Nitinol is a memory shape alloy produced in the mill product forms of strip, wire and tube. For more information see Yahoo News.
RTI International Metals
2-7-01…RTI International Metals, Inc. announced recent orders from oil and gas markets have increased the backlog for their energy business unit (RTI Energy Systems Inc.) to over $20 million. The recent volatility in the energy markets may sustain demand for these services. The titanium products supplied include titanium stress joints, subsea manifolds, riser systems and connectors for offshore, deepwater exploration applications. RTI’s customer base includes BP (British Petroleum), Shell, McDerrmott, Kerr McGee, Aker and Mariner Energy. For more information see Yahoo News.
10-3-00….RTI International Metals, Inc. has been awarded a contract to supply titanium components for the new XM-777 lightweight 155 mm Howitzer. The award was made by BAE Systems RO Defense, UK. Titanium deliveries begin in 2001. It is anticipated that over 800 of these guns will be produced from 2003- 2010. Customers include the US Army, the US Marines, the Italian and British armed forces. If the full complement of guns are produced this contract could exceed $100 million US dollars.
4-6-00…RTI International Metals announced that the Boeing Commercial Airplane Group has agreed to pay RTI $6 million in settlement costs over Boeings inability to satisfy their 1999 contractual commitments to RTI. According to one of the conditions of the long-term contract, the Boeing Commercial Airplane Group was required to order a minimum of 3.25 million pounds of titanium from RTI during 1999. However, total shipment volume to this Boeing group was under 1 million dollars. For more information see Yahoo news.
Sparta Surgical Corporation
9-14-00….Sparta Surgical Corporation and its subsidiary, Sparta E. Med, Inc. announced an agreement with OneSoft Corporation to build, operate and promote SpartaE*Med.com, with OneSoft receiving an equity interest. The web site will specialize in Electrosurgical and Microsurgical instruments & accessories, and Electromedical supplies and rehabilitation equipment. Among the surgical products will be Oral Maxillofacial’s plating systems and accessories, consisting of implant titanium plates and screws to repair bone fractures in the face and head. For more information see Yahoo news.
Sports Trend.Info
11-18-99 …..Sports Trend.Info released the latest sales figures for the tennis racket market. Each week SportsTrend.Info tracks point-of-sale data from the nations leading sporting goods retailers. Among the top ten best selling rackets for the week ending November 14, 1999 were two titanium rackets. Prince’s Synergy Tour Titanium men's oversize racket reached the number 3 spot and Prince’s Synergy React Titanium men's oversize racket reached the number 6 spot. Both rackets have been in the top 10 best selling rackets for the past three weeks.
Textron Inc
2-26-01....Avcorp Industries Inc., a Canadian aerospace component manufacturer, announced the signing of a major "life of program" contract to supply Cessna Aircraft (a Subsidiary of Textron Inc.) with aerostructure assemblies for Cessna's new "Sovereign" corporate business jet. The contract is worth over $100 million (Canadian dollars) and contains the fabrication of various metal components including the Sovereign's aft wing spar titanium flap track. For more details see Yahoo news.
5-16-00...TI Group PLC, Based in the United Kingdom, announced that it's Dowty Aerospace Division will benefit from the UK's government decision to lease 4 of Boeing's C-17's and purchase 25 of the Airbus A400M aircraft. From a separate contract, Dowty will now supply titanium tubular systems for the C-17 program, a result of Boeing's decision to outsource "all tube and duct assemblies throughout the cargo plane." The Dowty Aerospace division is made up of over 35 facilities throughout Europe and North America and specializes in "hydraulics, actuators, turbine engine components, aero structures, tubular systems, and propellers for the world's aerospace industry." For more information see Yahoo News.
Timet Metals Corporation
4-20-01....Titanium Metal Corp. (Timet) and Boeing Co. have settled a lawsuit in which Timet will receive between $60 million and $65 million from Boeing Co. The lawsuit was filed about 1 year ago with Timet asking for $600 million in damages alleging that Boeing had broken a long-term metal supply agreement by demanding that the agreement be re-negotiated. The two companies also announced a new agreement that allows Boeing to buy up to 7.5 million pounds of titanium annually from Timet through the year 2007.
10-2-00…..Timet Metals Corporation announced the ratification of a four year agreement that covers approximately 300 hourly workers at its Henderson, Nevada plant effective today 10-2-00. The contract provided increases in wages and pension for approximately 300 production and maintenance employees. Timet is a worldwide integrated producer of titanium metal products. For more information see Yahoo news.
3-22-00…..Timet Metals Corporation announced it has filed a lawsuit against The Boeing Company for "repudiation and breach of the long-term titanium purchase and supply agreement between the two companies". Timet is seeking damages in excess of $600 million. The long-term (10 year) agreement was entered into in 1997 and specified minimum purchase quantities of titanium products for each of the ten years.
2-28-00…..Titanium Metals Corporation (Timet) has entered into a $125 million revolving credit agreement with Congress Financial Corporation (Southwest). TIMET UK Limited has also entered into a revolving credit and terms agreement of up to 30 million British pounds sterling ($48 million). Both loans are subject to a formula-determined borrowing base. Timet is a leading worldwide integrated producer of titanium metal products. For more details see Yahoo News.
2-10-00…..Standard & Poor’s lowered its corporate credit rating on Timet Metals Corporation (Timet.) from double-‘B’-minus down to single-‘B’-plus. Timet’s preferred stock rating remains on CreditWatch with negative implications. Timet is currently negotiating a new, three year $125 million U.S. asset-based credit agreement which, if completed, would improve its preferred stock rating and remove it from CreditWatch. Timet is a leading worldwide integrated producer of titanium metal products. For more details see Yahoo News.
10-29-99...Timet Metals Corporation has had its ratings placed on Credit Watch by Standard & Poor's. Standard & Poor's lowered the company's corporate credit rating from double-'B' to double-'B'-minus and its preferred stock rating from single-'B' to single-'C'. For more details about this announcement see Yahoo news. Timet is a leading worldwide integrated producer of titanium metal products.
8-10-99….Company Press release from NAR Resources LTD. NAR Resources in conjunction with the Titanium Corporation of Canada is pleased to announce that it has agreed to proceed with a viability study with Hoogovens Technical Services, a wholly owned subsidiary of Royal Hoogovens, a major Dutch steel and aluminum producer. Royal Hoogovens have recently announced a merger with British Steel PLC, making the resultant company the world’s third largest steel producer.
Titanium Corporation jointly with NAR is developing what is believed to be a world class mineral sands deposit 1 containing the titanium minerals; rutile, ilmenite, and leucoxene as well as magnetite and zircon. The deposit is situated in central Nova Scotia near Truro.
The viability study is focusing on introducing ilmenite (an iron and titanium mineral) as a raw mineral feedstock for the Sydney Steel facility in Cape Breton, Nova Scotia. The Nova Scotia government has retained Hoogovens to manage the provincially owned Sydney Steel operation (Sysco). Hoogovens is also working with the major Dutch Bank ABN-AMRO who has been commissioned by the Nova Scotia government to privatize Sydney Steel.
The agreement deals with the evaluation of a potential new source of raw material feedstock for Sysco. If the material is proved suitable for steel production in Sydney there are several distinct advantages which would be realized. Firstly, Sysco would have a preferential source of raw materials, which would come from a Nova Scotia source, thus giving the company a distinct competitive advantage. Secondly, Titanium Corporation and NAR would benefit from a processing arrangement, which would augment their anticipated titanium production.
The process under consideration involves locating a titanium slag facility at the Sysco site whereby two products would be generated, titanium slag and an iron byproduct. If a titanium slag facility were situated adjacent to the Sysco site it would allow the liquid iron byproduct to be used as a direct feed into the existing electric arc furnace. This offers a significant cost benefit for Sysco relative to the world market price for scrap or alternative virgin iron units and would contribute to a reduction in power and electrode consumption. Additionally, the titanium slag process generates significant quantities of fuel gas, which could be used directly by Sysco.
This scenario introduces a potentially positive outcome for Sysco, not only could it assist in the consortium’s effort to privatize the steel plant, but could also introduce profitable and long-term implications for Sysco.
A development-drilling program at the Mineral Sands Project is proceeding as scheduled with 300 holes having been drilled to date. Preliminary results are proving the merit of the deposit. Initial metallurgical test work conducted at MD Mineral Technology of Australia, Outokumpu-Carpco division in Florida and Lakefield Research of Ontario have yielded positive results. As a follow up to this initial work a three tonne sample has been shipped to Lakefield Research, where it is undergoing a detailed 18-week metallurgical test program.
Trim Engineering Ltd
3-16-01....Mayflower Aerospace and Rail Systems has acquired Trim Engineering Ltd from Compass Aerospace Inc. (USA) for a consideration of 38 million pounds sterling. Trim Engineering, which operates in Wrexham, Poole and South London is a leading provider of large, complex machined aluminum and titanium wing components to Airbus in Bristol, North Wales and to Shorts Brothers in Belfast. Trim reported revenues of 32m pounds for year 2000 with operating profits of 4.6m pounds.
2-7-01....Russian titanium producer VSMPO (Verkhnya Salda Metallurgical Production Association) plans to raise semi-fabricated titanium exports from 7,860 tons (year 2000 export total) to 12,000 tons. Titanium exports might rise to 15,000 tons by 2005. In addition, last month VSMPO said it has plans to raise its share of ownership in AVISMA, Russia's sole producer of titanium sponge from 75.18 % to 100% ownership by the year 2002. For more details see Yahoo news.
6-5-00…..Boeing Co. has signed strategic cooperation agreements with two Russian companies, one being titanium-mill product producer VSMPO (Verkhnaya Salda Metallurgical Association). The agreements have no monetary components but are intended to develop a legal and business structure for strategic partner relationships for further cooperation between Boeing and these companies. The VSMPO plan includes R&D work on better alloys and applications of titanium and could include more titanium components in aircraft and spacecraft. VSMPO has previously signed a 6 year deal with Boeing (valued at $250 million) to supply about 20% of Boeing's commercial titanium mill product needs. For more information see Yahoo News.
Wyman-Gordon Company
10-26-99...Precision Castparts Corp. and Wyman-Gordon Company announced they have executed an Agreement Containing Consent Orders with the Federal Trade Commission staff. Precision Castparts Corporation is pursuing a proposed $825 million dollar acquisition of Wyman-Gordon Company. The agreement will be submitted to the FTC for its approval. There are no assurances that the FTC will approve this agreement. Precision Castparts Corp. is a "worldwide manufacturer of complex metal components and products". Wyman-Gordon is a "leader in forgings, investment castings and composite structures". Both companies are major consumers of titanium mill products. For more details about this announcement see Yahoo news and Business Wire.
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