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NEWS

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Titanium Industries Announces Bombardier Titanium Supply Agreement
Titanium Industries, Inc. announced today that it has entered into a 5-year Agreement to coordinate the supply of titanium products for Bombardier* Aerospace and its fabricated metal parts suppliers. The Agreement brings together Titanium Industries’ service centers supporting Bombardier’s North American, European and Asian supply base. As a result, Titanium Industries will act as Bombardier’s principal titanium service provider while ensuring just-in-time delivery to all Bombardier’s major titanium fabricated metal parts suppliers. titanium ingots Under this agreement, Titanium Industries is responsible for the consolidation of vendors’ requirements, procurement of titanium products from Bombardier’s designated Titanium Sources titanium bars (including plates, bars and sheets), management of inventory, value-added services, and reporting of all transactions to Bombardier in a timely manner. This Agreement pertains to all Bombardier current in-production aircraft including regional, business and titanium sheets and titanium tube  amphibious aircraft, as well as the proposed CSeries* family of aircraft. Titanium Industries, Inc. is the world’s largest manufacturing distributor of titanium for aerospace, medical titanium bars and general industrial applications with five service centers in the USA and titanium ingots one each in Taiwan, UK and Canada. All facilities are ISO9002 and AS9100 approved and hold a variety of additional aerospace, medical and titanium bars general industrial approvals. Bombardier and CSeries are titanium sheets and titanium tube registered trademarks of titanium ingots Bombardier Inc. or its subsidiaries.

Titanium Industries, Inc. Purchases GMT Companies
Titanium Industries, Inc. (TI) and GMT Companies (GMT) are pleased to announce that TI has purchased the GMT titanium ingots companies including GMT Titanium. This will allow TI and GMT to join forces in their efforts to sell titanium and high performance metal products to the European customer base. This purchase joins TI, the world’s largest independent manufacturing distributor of titanium mill products titanium sheets and titanium tube primarily for aerospace and medical markets and GMT, a leading European based distributor of primarily industrial based titanium products. The two European GMT facilities in Bergen, titanium ingots  Norway and Southampton, England will compliment the TI facility in Birmingham, England; as well as 7 other strategically located distribution facilities. The co-existence of these facilities will also provide the additional space required titanium ingots  to immediately grow European operations of the two companies, as well as the continued expansion of the non-titanium High Performance Metal, or HPM division, of TI. titanium bars Brett Paddock – President and COO of TI said, “GMT’s strong titanium ingots presence in the North Sea and European industrial market and recent success in the alloy bar market will be an impressive addition to TI’s sales and processing titanium bars capabilities titanium sheets and titanium tube for many types of mill products into major market segments; which include general industrial, biomedical, and aerospace. GMT’s personnel also have considerable expertise in non-titanium products that fits well into titanium bars the long term product diversification strategy at TI.” In addition, GMT titanium ingots Titanium’s global sourcing capabilities and innovative marketing strategies are expected to bring new opportunities to the entire Titanium Industries’ distribution network. Roger Sjomark, GMT’s current Chairman, will take over as Director of European Business Development for Titanium Industries and report to Mr. Paddock. His responsibilities will include strategic European titanium bars  business development and he will work closely with many titanium sheets and titanium tube departments at both titanium ingots companies. Jan-Hugo Schnelle will continue his responsibilities as Managing Director of both the Norway and UK facilities and he will also oversee Titanium Industries, UK, Ltd division. He will report titanium sheets and titanium tube to Jeff Wise, Vice President, titanium ingots Sales and Marketing for TI. Mr. Wise added, “The combined synergies of the two companies; including quality products we offer, titanium bars the markets in which we operate, the customer service oriented and technically sound expertise of our titanium ingots personnel and our common strategy to empower our employees, will allow unprecedented growth opportunities for the combined companies in Europe titanium sheets and titanium tube and the world market. In addition to product diversification and processing capability expansion, some of the immediate opportunities will be to focus on growth into Central and Eastern Europe.”

In business since 1972, Titanium Industries, Inc. is the world’s largest manufacturing distributor of titanium mill products with six distribution facilities in North America, including a recently expanded facility in Montreal, Canada and four international facilities with a fifth to be opened by the end of June in Bangalore, India. TI and GMT hold ISO 9001:2000 and TI holds AS 9100 Rev.B and a variety of airframe, engine, DOD, medical and industrial customer approvals. Titanium Industries also sells other specialty metals through its wholly owned High Performance Metal division.

 

Ferritic stainless steel prices set to move even higher

 

Fiko Electron Beam Metallurgical plant takes orders for manufacture:

1.     Titanium ingots:

-         Titanium ingots dia. 370-630mm ASTM Grade1, Grade2, Ti6Al/4V

-         In case you need moderate quantity of titanium ingots so we can take orders for one titanium ingot initially

-         Supply titanium ingots with oxygen content 0,04-0,08 and 0,10 and more

2.     Titanium bars:

-         Titanium bars ASTM Grade1, titanium bars Grade2, titanium bars Grade5, titanium bars Ti6Al/4V

-         Titanium bars for shipbuilding industry ASTM Grade 9, Alloy 5V

-         In case you need one titanium bars we are ready to deliver it for you by TNT or DHL or we could cut titanium bar into billets

-         Supply of titanium bar for sputtering

3.     Titanium tubes:

-         Titanium seamless tubes ASTM Grade2; ASTM Grade1, ASTM Grade Ti6Al/4V

-         Titanium tubes for shipbuilding industry

-         If you are under current repair and you need only one titanium tube so we would deliver titanium tube by TNT or DHL

-         Titanium tubes for sputtering. We have on stock following titanium tube for sputtering:

     Titanium tube dia. 61x 11mm

     Titanium tube dia. 60x 12.5mm

     Titanium tube dia. 60x 14mm

                    Moreover we have titanium tubes dia. 10x 1.0mm to dia.168x 14mm

                     in availability.                        

               -  Take orders for manufacture of thick-walled titanium tubes dia. 114x    

                 14mm and  others.

Manufacture of titanium materials in Ukraine

Fiko titanium ingots are produced at Fiko Electron-Beam Metallurgical plant and are melted into following titanium materials: titanium tubes, wire, bars, sheets and plates.

Titanium bars are manufactured together with Joint-Stock company SUMY FRUNZE NPO and JSC DNEPROSPETSSTAL.

JSC DNEPROSPETSSTAL specializes in output of stainless materials such as stainless sheets, stainless tubes and stainless bars.

Fiko ltd cooperating with several plants such as VSMPO-AVISMA Corporation, Nikopol titanium works in Dnepropetrovsk manufactures titanium tubes.

Chelyabinsk Sells to Ukraine

Chelyabinsk Zinc Plant, producer of about 60 percent of the country’s zinc, started direct sales to Ukraine and Belarus, the company said in a statement Tuesday.
It will ship 5,300 tons to the Ukraine and 500 tons to Belarus in 2007, the company said. The zinc producer started sales to the Britain earlier this year and plans to ship 6,000 tons of the metal to the country in 2007. Shipments will more than triple to 20,000 tons next year, the company said. 

Severstal Opens U.S. Mill

Severstal, the country’s largest steelmaker, started production at the 1.5-million-ton SeverCorr steel mill in Columbus, Mississippi, the company said in a statement on its web site Tuesday.
SeverCorr, a venture with a team of U.S. steel executives, is producing steel for cars, pipes, construction and machines, the steelmaker said. SeverCorr will benefit from being close to new car plants being built in the south of the United States, the company said.

 Russia Increases Export of Non-ferrous Metals 

As indicated by the analysis of non-ferrous metal exports for 9 months of 2007, Russia exported 178.1 thousand tons of refined copper, including 175.1 thousand tons to overseas countries and 3 thousand tons to CIS countries. Foreign supplies of nickel in January-August amounted to 166.8 thousand tons, most of which were shipped outside of CIS countries. Export of aluminum reached 2.588 million tons.

Non-ferrous Metallurgy Needs Innovative Technologies

The IV international scientific and practical conference 'Modern Technologies in Non-ferrous Metals Production and Processing' will be held on November 15, in the frame of the exhibition 'Metall-Expo 2007'. The issues proposed for the discussion include prospective technologies of copper and zinc production, use of innovative metal cutting equipment for cold and hot cutting of titanium and nickel alloys, methods of processing of different metallurgical wastes, use of aluminum alloys in automotive industry.

 

Souzmetallresurs will raise funding

“Souzmetallresurs” is the resource PAM of “Basic element”, which belonged to Oleg Deripaska. It can become one of the first Rusal's assets, which shares will be transferred to the stock exchange. IPO SMR can take place to the end of this year. The company plans to realize almost 170 million dollars from the placement at the Hong Kong stock exchange. According to the expert’s opinion, the Asian investors can show considerable interest to the shares of molybdenum, copper and ferromolybdenum manufacturer.

“Souzmetallresurs” (SMR) is engaged in survey, mining, dressing and metallurgical processing of minerals, manufacture and realization of copper and molybdenum concentrates and ferromolybdenum. The company has actives in Russia, Kirghizia and Mongolia. The basic shareholder is “Strikeforce” (it is the part of “Basic element” and holds 100 % of shares). According to the International Accounting Standards SMR’s avails were 234 million dollars in 2006. Molybdenum concentrate’s production amounts to 7.7 thousand ton, ferromolybdenum – almost 4.5 thousand ton, copper concentrate – almost 1.7 thousand ton.

SMR can place its shares at Hong Kong stock exchange, said Dzheffri Kouli, the general director of “Souzmetallresurs”. According to his words, company Strikeforce (“Basic element” sub-company) which has 100% of SMR’s shares will place securities. IPO can be navigated in the third or fourth quarter this year.

According to Mr. Kouli, SMR’s cost is almost 700 million dollars. He noted that according to the requirement of the Hong Kong stock exchange the volume of accommodation should be more than 25% of the authorized capital. Thus, the company plans to realize from paper trade 175 million dollars. SMR’s CEO has proved a field choice by “the higher multipliers in comparison with other stock exchanges”. IPO organizer will be already chosen next week, noted Dzheffri Kouli.

According to the expert’s estimations, SMR can attract attention of the vast number of investors. The company is the unique manufacturer of ferromolybdenum in Russia and occupies 6% of the world molybdenum market. The company planned to increase its manufacture by 10% in 2007 and 2008. Nicolay Sosnovsky, the Sobinbank analyst, considers that SMR’s apparition at the stock exchange is a logical step. “Basic element” is the great holding, but its sub-companies obtain funds by themselves”, - noted expert.

In previous autumn Oleg Deripaska's holding announced plans to procure the capital (billions dollars) the nearest three years due to primary accommodation of shares at the stock exchange. It was expected, that “Rusal” will navigate IPO first – in autumn 2007 (“Basic element” has 66% of Rusal’s shares). However, later one of co-owners of the company has announced that accommodation of Rusal’s shares was advanced without date. Nevertheless IPO should take place within three years from the moment of consummation of merger transaction (i.e. since March, 2007). About one month ago British mass-media "have already sent" aluminum holding for carrying out of IPO in Hong Kong. However, the company management denies this opportunity and doesn’t expose the presumable place of accommodation.

According to the opinion of experts, one of the largest stock exchanges of Asia can become a good launch pad for “Souzmetallresurs”. “De facto, companies belonged to the raw material industry can bargain with multiplier P/E (capitalization to profit) in the order of 30-40 in the Asian share markets, whereas in Russia this parameter is only 10”. According to the opinion of Mr. Sosnovsky, SMR can realize 200 million dollars from shares accommodation. “Asian investors can consider the asset enough attractive”, - he believes and reminds that demand on shares of the mining and metallurgical companies especially producing nonferrous metals grows more and more in Asia.
 

Wednesday, February 20, 2008

 

Experts predict record growth of freight index

Dry-cargo freight tariffs can rise up to a record after the conclusion of contracts for iron ore delivery, informs agency Bloomberg with reference to CIMB Bhd analysts.
Baltic Dry Index controlling the prices for sea transportations of bulk cargoes worldwide, can come up to 10000-11000 points during the next six months. CIMB analyst Raymond Jap noted it in his report.
Demand on dry-cargo ships can increase because of Chinese steel-production companies will conclude contracts with three largest iron ore suppliers - Vale, Rio Tinto Group and BHP Billiton.
During the last six sessions Baltic Dry has shown a growth of 20%, on Thursday it has increased for 3.6%. The indicator has come up to record 11039 points in November, and then it has dropped due to the growth retardation.
“The more China holds back the conclusion of the agreement, the more it will need to import expensive ore, for example, from India, - is marked in the report. - If spot prices will not drop considerably (it is improbable), the mining companies will keep stronger positions at negotiations. Capitulation of China is inevitable and is a matter of time”.
Likewise China, probably, will have to increase purchases of ore in Brazil and Australia, because India can impose a 10-15% tax on ore export since April, 1st.
The increase of coal import will work towards the advance in price of transportations in China.
“China will become the coal importer in 2008, its consumption will increase for 5.3% - up to 2.76 billion tons”, - is marked in the report.

 

 

TIMET is the main manufacturer of titanium ingots in USA.

Titanium ingots are melted by electron-beam method

Titanium ingots are melted by vacuum arc method

TIMET manufacture following titanium materials from titanium ingots:

titanium bars, titanium tubes, titanium wire, titanium sheets and titanium plates.

 

VSMPO-AVISMA Corporation is the main manufacturer of titanium ingots and all kinds of semi finished items (titanium bars, titanium tubes, titanium wire, titanium sheets and titanium plates) from titanium alloys in Russia.

 

FIKO LTD is the main manufacturer and supplier of titanium ingots and all kinds of semi-finished items (titanium bars, titanium tubes, titanium wire, titanium sheets and titanium plates) from titanium alloys in Ukraine. Fiko ltd manufactures titanium ingots of following titanium grades: titanium ingot Grade 1, titanium ingots Grade 2, titanium ingot Ti6Al/4V and titanium ingot Alloy 5V.

 

Fiko ltd cooperating with other mills produce titanium bars, titanium tubes, titanium wire, titanium sheets and titanium plates from its titanium ingots.

TIMET and Carpenter Technology enter into long-term joint supply and processing agreements

Titanium Metals Corporation ("TIMET") and Carpenter Technology Corporation Thursday announced joint agreements under which TIMET will supply Carpenter with titanium metal and scrap melting services and Carpenter will provide specialized titanium conversion processing to TIMET.

Under the supply agreement, TIMET will supply Carpenter with titanium metal and toll melting services for Carpenter's titanium scrap at agreed upon prices for a minimum of 12 years and a maximum of 20 years. Under terms of the processing agreement covering the same period, Carpenter will provide TIMET with forging and related processing services at agreed upon prices for TIMET's titanium products. Financial terms of the two agreements were not disclosed.

Steven L. Watson, Vice Chairman and Chief Executive Officer of TIMET, said "We are very pleased to expand our relationship with Carpenter by entering into these mutually beneficial agreements. TIMET will gain access to significant forging capacity that will allow us to continue to serve the expanding needs of our customers under long-term agreements. These strategic agreements further demonstrate TIMET's commitment to achieve profitable growth for our shareholders by adding production capacity in a cost efficient manner and leveraging our position as a leading producer of titanium mill and melted products."

"These agreements provide considerable benefits to both companies and to our customers," said Anne L. Stevens, Chairman and Chief executive Officer of Carpenter. "We are excited about the opportunity to work jointly with TIMET which is one of the premier companies within the titanium industry."

"Together, these agreements help to utilize capacity and increase the operating efficiency of Carpenter's processing operations in Reading, Pennsylvania and represent a long-term source of titanium for our Dynamet subsidiary. The agreements leverage the capabilities of Carpenter and TIMET and set an example of the productive collaborations Carpenter will pursue as part of its strategic growth plan," said Stevens.