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Titanium Metals Corp (TIE) RSS Feed

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Titanium Metals Corp.

http://www.timet.com/

About Timet

TIMET is the world's largest supplier of high quality titanium metal products. With its unique combination of strength, light weight, corrosion resistance and other metallurgical properties, titanium is used in hundreds of diverse aerospace, industrial and emerging applications where no other metal is as reliable or economical, especially on a lifecycle costing basis.

As a fully-integrated titanium manufacturer and distributor, TIMET's activities span every phase of titanium research, manufacturing and sales. We convert rutile ore into sponge; melt and refine ingot and slab; manufacture mill products; and distribute our products globally. We have the financial strength, capacity and technical solutions to meet the established demands for titanium and, as new uses for titanium accelerate, to lead the industry into the future.



North American Locations

         

European Locations

WORLD HEADQUARTERS
Titanium Metals Corporation
5430 LBJ Freeway, Suite 1700
Dallas, TX 75240
Phone: (972) 934-5300 | Fax: (972) 934-5343

NORTH AMERICAN OPERATIONS OFFICE
224 Valley Creek Blvd., Suite 200
Exton, PA 19341
Phone: (610) 968-1300

RESEARCH and DEVELOPMENT
N. American Technical Lab
W. Lake Mead and Atlantic Ave., Henderson, NV 89015
Phone: (702) 566-4403 | Fax: (702) 564-9038 | Email: technical.htl@timet.com

HENDERSON MILL
8000 West Lake Mead Dr | Henderson, Nevada, 89015
Phone: (702) 564-2544

TORONTO MILL
100 Titanium Way | Toronto, Ohio, 43964-1000
Phone: (740) 537-5601

 

WITTON MILL
The Hub | Holford Road | Off Witton Road | Witton, Birmingham B6 7AX | ENGLAND
Phone: +44-121-3561155 | Fax: +44-121-356-5413

WAUNARLWYDD MILL
Ystrad Road | Waunarlwydd, Swansea SA5 4BT | SOUTH WALES
Phone: +44-1792-873471 | Fax: +44-1792-874028

SAVOIE
62 avenue Paul Girod, 73400 Ugine, France
Tel: +33 4 79 89 73 73 | Fax: +33 4 79 89 73 72

LOTERIOS S.p.A.
Via MONTE GRAPPA 44 - 21040 GERENZANO (VA), Italy
Tel: +39-02-9648281 | Fax: +39-02-96489542 | Email: loterios.spa@loterios.com

Ti Process Diagram

TIMET is the world's leading fully-integrated titanium manufacturer, controlling every step of the process, from refining titanium sponge (the commercially-pure, elemental form of titanium) to melting ingot and slab (from sponge, scrap and alloy elements), to forging mill products.

The first step in the production of sponge (so-called for it's sponge-like appearance) involves the chlorination of titanium-containing rutile ore, derived from Australian beach sand. Chlorine and coke are combined with the rutile to produce titanium tetrachloride (TiCl4), which is then reacted with magnesium in a closed system. The by-products are sponge and magnesium chloride. Using the Vacuum Distillation Process or Kroll-leach process, the magnesium and mag chloride are removed to be recycled.

The sponge is melted with scrap and/or alloying elements such as vanadium, aluminum, molybdenum, tin and zirconium in a Vacuum Arc Reduction furnance (to produce VAR ingots) or in an Electron Beam (EB) Cold Hearth furnace, to produce remelt electrodes which can then be VAR melted (typically to meet aerospace requirements) or direct cast to slabs.

VAR ingots (cylindrical shapes weighing up to 17,500 pounds) are forged to slabs (rectangular shapes) or billets (bar shapes). Ingots are also used for investment casting stock.



North American Operations

         

European Operations

Our state-of-the-art sponge plant in Henderson, Nevada converts rutile ore to the highest-quality titanium sponge partially through our unique Vacuum Distillation Process (20-million pound annual capacity) and by the Kroll-leach Process (12-million pound annual capacity).

Using Vacuum Arc Remelting (VAR) furnaces, the Henderson plant has the capacity to melt up to 30 million pounds of ingot per year. TIMET pioneered triple VAR melting to produce titanium ingot that meets the critical rotating jet engine quality specifications.

Research and Development facilities located at the Henderson plant are the most extensive and productive in the industry. Research scale equipment for all melting, forging and rolling is used to improve processes and develop new alloys to meet customer needs.

In Toronto, Ohio ingots are forged into slabs, billets and bars. Slabs are subsequently hot rolled to sheet and plate or cold rolled for strip and welded tube applications. Billets and bars are produced to meet the highest quality standards in the world. Our Sendzimir cold rolling mill is the only dedicated titanium strip rolling facility in the world and our continuous vacuum annealing facility is the only one of its type.

Our Morgantown Operations are totally integrated facilities for titanium scrap recycling, Electron Beam Cold Hearth Refining (EBCHR), Vacuum Arc Remelting (VAR), and casting of titanium and other specialty metals. For industrial and aerospace applications, we direct cast refined metal into a variety of remelt and starting stock products in various alloys.

 

At our plant in Witton near Birmingham, England raw materials, including sponge, are purchased to feed VAR melting furnaces with 16 million pounds of annual capacity. The plant then forges ingots into billet for aerospace applications, produces intermediate billet and slab for processing at our Wales facility and fabricates wire. Witton also houses our highly productive European research and development laboratory.

At Waunarlwydd, Wales we produce hot rolled bar and fan blade plate for jet engine and medical applications. With an annual bar rolling capacity of 4 million pounds per year, this plant is one of the most significant suppliers of titanium bar in the world. Our fan blade plate is used in the newest technology jet engines and is supplied in both flat and proprietary taper-rolled forms.

The Ugine, France facility purchases raw materials to melt approximately 4 million pounds of VAR ingot annually. These ingots are forged into both rotating and structural quality billet for aerospace applications.

Our facility in Loterios covers both the marketing and production of titanium goods. Loterios specializes in marketing of Ti mill products and semis, like ingots, coils, sheets, wire, forgings and the like is carried on by an experienced sales team , with the support of a well organized Service Center.

Service Centers

         

R&D

As part of TIMET's fully-integrated approach, we have international service center and distribution network that stocks the largest off-the-shelf inventory in the world and offers a host of value-added services.

Complete Customer Support
Our in-house metal processing services include sawing, shearing, cutting-to-length and torch cutting. Through quality-audited local subcontractors, we offer machining, heat treating, water-jet and laser cutting, perforating and slitting. By delivering material ready for your first operation, we help you reduce excess and work-in-progress inventory, shorten cycle times, eliminate scrap loss and improve plant efficiency.

Inventory control and JIT delivery programs enable us to stock material according to your forecasts and ship as required. Coupled with scrap and surplus inventory buyback programs, this allows you to completely offload your titanium sourcing responsibilities and lower your operating costs. TIMET also boasts the world's most extensive dedicated titanium Research and Development facilities, with an emphasis on customer support, technical and laboratory services, and product and process development.

We can quickly provide product and alloy data sheets and fabrication guidelines, via fax or web, and tap into our large private library of published and proprietary titanium research.

TIMET Service Centers maintain the world's largest off-the-shelf inventory and dependably stock the industry's broadest range of product forms and alloys, so you can purchase what you need, delivered when you need it. We can provide anything from single pieces to heat lots and our mill ownership gives us the capacity to meet unusual demands. Small quantities are available for JIT and expedited shipping. You can depend on a single source with consistently competitive prices to meet all your titanium requirements.

Products for Every Application
Standard Mill Productsinclude all common grades and sizes of billet, bar, plate, sheet, strip, welded tube, pipe, fittings, casting electrodes and weld wire. By offering both job quantities of titanium from our mills and the necessary corresponding supplemental products, TIMET has become the leading supplier to industrial markets.

Custom Productsare manufactured through our Service Center metal processing services. Machining blocks are cut to tight tolerances from billet and bar and delivered in small quantities with short lead times. Unique 'master plates' are cut to customer specs to meet block requirements that don't lend themselves to forging. Aerospace bar is stocked in rolled, forged or cut shapes and a full line of aero flatroll can be sheared or slit. Extrusions can also be manufactured to specific design shapes to reduce the need for machining.

Worldwide Service Orientation
TIMET's Service Centers are strategically located in major aerospace, industrial and manufacturing hubs in the US and Europe, to ensure product and service availability on a responsive, regional basis.

To service the growing offshore energy exploration and production markets, TIMET's Loterios, S.p.A., in Milan, Italy serves as one of Italy's largest fabricators and distributors of titanium products and a leading supplier of large scale titanium mill products and supplementals for North Sea platforms. It has furnished a majority of the titanium fire- and service-water piping in the North Sea and offers considerable expertise and experience using titanium offshore. It also concentrates on supplying fluid handling components for corrosive environments to the CPI.

At each Service Center, dedicated sales teams are responsive and informed, and empowered to satisfy your exact quantity, quality and delivery requirements. Commitments that are made, are kept, so you receive the metal you order, on time, ready for your immediate processing.

Certified, Traceable Quality
TIMET affords you distinct quality benefits because our Service Centers are stocked either by our own fully-integrated manufacturing facilities or with high-quality material purchased from suppliers certified by TIMET's QA Department. Our stringent quality processes and techniques ensure the highest quality metal, with complete traceability. As the leading supplier to the aerospace market, our mill products are certified to the toughest specifications. TIMET's Service Center network is ISO 9002 qualified and approved by end users to stock aircraft quality inventory for critical rotating parts. Our industrial products are ASTM and ASME certified and meet all common industry specifications.

 

TIMET's technical laboratories in Henderson, Nevada and Witton, England comprise the most extensive dedicated titanium research and development facilities in the world.

Our internationally-recognized labs have superior, proven capabilities in developing new alloys, applications, products, and melting and processing techniques. In fact, TIMET labs have been responsible for a wide array of 'firsts,' including the continuous leaching process for sponge production, consumable-electrode vacuum melting and continuous sheet rolling.

Virtually all the commercially significant, proprietary alloys developed in the past 25 years have been invented by our labs.

TIMET labs also support our manufacturing plants. Chemists and research engineers consult with plant metallurgists on manufacturing processes to assure the highest quality, optimize yields and minimize costs, to ultimately benefit TIMET customers.

Both existing and potential customers benefit from our wealth of technical experience in aerospace, industrial and emerging applications. We devote significant time resources to answering technical questions, by drawing on a large private library of published and proprietary titanium articles. We welcome collaborative programs aimed at solving specific customer problems and reducing production costs.

The Henderson Technical Lab is located adjacent to our primary sponge manufacturing plant and alloy melt shop, in Henderson, Nevada. It functions as our alloy and product development center, provides sales and marketing assistance and offers toll contract services.

To manufacture small quantities of titanium alloys for customer evaluation, quickly and with complete confidentiality, our pilot scale melt and forge facility houses the industry's most complete small-scale VAR melt shop. HTL is capable of producing small 'button' melts of 0.5 lbs and ingots ranging from 6" diameter weighing 15 lbs to 18" diameter weighing 1800 lbs, in customer-specified compositions.

Pilot scale finishing services include forging (250 ton press), hot and cold rolling (up to 7" wide flat, 1" diameter round), heat treating, machining, pickling, chemical analysis and mechanical testing.

Our research scale melting, forging and rolling equipment is also used in process improvement trials and evaluations.

For corrosion analysis, we assist in material selection and perform failure analysis and in-situ evaluations. Our corrosion lab offers uniform, crevice, pitting, stress corrosion and hydrogen absorption testing. For electrochemical studies, we perform AC Impedance and DC Polarization testing. ICP, DCP, AA and Gas Analysis testing, as well as routine and 'one of a kind' analytical services, are also available.

Additional equipment includes Scanning Electron Microscopes with micro-analytical capability and full metallographic preparation equipment.

Any of HTL's services can be quoted as toll contract work and many of these services are free to TIMET customers.

News Releases

http://finance.yahoo.com/q/h?s=TIE

SEC Filings

http://www.timet.com/fi_cc/secText.asp?secTextLink=6479649+%26+doc=+%26+attach=on

Nearly 2 Years of Astounding Insider Accumulation!

http://finance.yahoo.com/q/it?s=TIE

Board of Directors

         

Last Annual Report - 2008

Harold C. Simmons, Chairman


Harold C. Simmons has been Chairman of the Board since November 2005.  Mr. Simmons was previously Vice Chairman of the Board and a director of TIMET since August 2004.  Mr. Simmons served as Chief Executive Officer of TIMET from November 2005 until the appointment of Mr. Watson to that position in January 2006.  Mr. Simmons is Chairman of the Board of 1) Valhi Inc. ("Valhi"), a diversified holding company engaged in the manufacture of titanium dioxide pigments through its majority interest in Kronos Worldwide, Inc. ("Kronos"), the manufacture of ergonomic computer support systems, precision ball bearing slides and security products through its majority interest in CompX International Inc. ("CompX") and in waste management, 2) Contran Corporation ("Contran"), a diversified holding company and 3) NL Industries, Inc. ("NL").  Mr. Simmons is also Chief Executive officer of NL and Chairman of the Board and Chief Executive Officer of Kronos.  Mr. Simmons has been an executive officer and/or director of various companies related to Valhi and Contran since 1961.  Valhi, Contran, NL, Kronos and CompX may be deemed to be affiliates of TIMET.  Mr. Simmons is a brother of Glenn R. Simmons.  Valhi, NL, Kronos and CompX may be deemed to be affiliates of TIMET.

Steven L. Watson, Vice Chairman


Steven L. Watson has been Chief Executive Officer of TIMET since January 2006, Vice Chairman of the Board since November 2005 and has been a director of TIMET since 2000.  Mr. Watson has been President and a director of Valhi and Contran since 1998 and has served as an executive officer and/or director of Valhi, Contran and various companies related to Valhi and Contran since 1980.  Mr. Watson also serves on the board of directors of NL, CompX, Kronos and Keystone Consolidated Industries, Inc. ("Keystone"), a steel fabricated wire products, industrial wire and carbon steel rod company.   Keystone, Valhi, NL, Kronos and CompX may be deemed to be affiliates of TIMET.

Glenn R. Simmons
Valhi, Inc.

Glenn R. Simmons has been a director of TIMET since 1999.  Mr. Simmons is Chairman of the Board of Keystone and CompX.  Since 1987, Mr. Simmons has been Vice Chairman of the Board of Valhi and of Contran.  Mr. Simmons has been an executive officer and/or director of various companies related to Valhi and Contran since 1969.  Mr. Simmons is also a director of NL and Kronos.  Mr. Simmons is the brother of Harold C. Simmons.  Keystone, Valhi, NL, Kronos and CompX may be deemed to be affiliates of TIMET.

Lt. General Thomas P. Stafford
Retired

Lt. General Thomas P. Stafford (retired) was reappointed to the TIMET Board of Directors in January 2006.  Gen. Stafford previously served on TIMET's Board of Directors from 1996 until 2003.  Gen. Stafford also has served on the boards of directors of numerous public corporations listed on the NYSE, and currently serves on the board of NL Industries, Inc. and is chairman of NL's audit and management development and compensation committees.  Gen. Stafford was selected as an astronaut in 1962, piloted Gemini VI in 1965 and commanded Gemini IX in 1966.  In 1969, Gen. Stafford was the Apollo X commander for the first flight of the lunar module to the moon, descending to 10 miles above the moon and selecting the first lunar landing site.  He was then named Chief of the Astronaut Office.  He commanded the Apollo-Soyuz joint mission with the Soviet cosmonauts in 1975.  Gen. Stafford left NASA in 1975 to command the Air Force Flight Test Center.  In 1978 he was promoted to Lieutenant General and to U.S. Air Force Deputy Chief of Staff for Research and Development.  After his retirement from the U.S. Air Force in 1979 as Lieutenant General, he became chairman of Gibraltar Exploration Limited, an oil and gas exploration and production company, and served in that position until 1984, when he joined General Technical Services, Inc., a consulting firm.  Gen. Stafford was also affiliated with Stafford, Burke and Hecker, Inc., a Washington-based consulting firm, from 1982-2005.  Gen. Stafford has more recently served as an advisor to a number of governmental agencies including NASA and the Air Force Material Command.  He is currently Chairman of the NASA Advisory Council Task Force on the International Space Station Program, and also served as Co-Chairman of the Stafford-Covey NASA Space Shuttle Return to Flight Task Group.

Gen. Stafford is chairman of each of the Audit Committee and the Management Development and Compensation Committee.

Paul J. Zucconi
Consultant

Paul J. Zucconi has been a director of TIMET since 2002.  In 2001, Mr. Zucconi retired after 33 years at KPMG LLP where he was most recently an audit partner.  Mr. Zucconi is a member of the American Institute of Certified Public Accountants ("AICPA") and is involved in developing the professional development courses for the AICPA.  Mr. Zucconi also serves on the Board of Directors and Audit Committee of Torchmark Corporation, a major life and health insurance company, and the Board of Directors of the National Kidney Foundation of North Texas, Inc.

Mr. Zucconi is a member of the Audit Committee and is the Audit Committee "Financial Expert".

Keith R. Coogan
Pomeroy IT Solutions, Inc.

Keith R. Coogan has been a director of TIMET since 2006.  Mr. Coogan is chief executive officer and a director of Pomeroy IT Solutions, Inc., an information technology services and solutions provider.  From 2002 to 2006 Mr. Coogan served as chief executive officer of Software Spectrum, Inc., a global business-to-business software services provider that Level 3 Communications, Inc. sold to Insight Enterprises Inc. in 2006 and that from 1991 to 2002 was a publicly held corporation.  From 1990 to 2002, he served in various other executive officer positions for Software Spectrum, Inc., including vice president of finance and operations and chief operating officer.  He also serves as a director of Kronos and a member of Kronos's audit committee.  Mr. Coogan serves on TIMET's Audit Committee, Management Development and Compensation Committee, and the Nominations Committee.


Terry N. Worrell
Worrell Investments, Inc.

Terry N. Worrell, served as a director of TIMET in 2003 before becoming a director of NL Industries, Inc., where he continues to serve as a director and member of NL’s audit committee.  Mr. Worrell has been a private investor with Worrell Investments, Inc., a real estate investment company, since 1989.  From 1974 to 1989, he was president and chief executive officer of Sound Warehouse of Dallas Inc., a chain of retail music stores.  Mr. Worrell is a also director of Regency Centers Corporation, a real estate investment trust.  Mr. Worrell serves on TIMET's Audit Committee.

 

http://www.timet.com/pdfs/08annual.pdf

Transfer Agent -

American Stock Transfer and Trust Company ("AST")
http://www.amstock.com
(800) 937-5449 or (718) 921-8200
59 Maiden Lane
New York, NY 10038

AST acts as transfer agent, registrar and dividend-paying agent for TIMET and maintains all stockholder records for TIMET. All inquiries about accounts and other related matters should be directed to AST via their website, telephone or in writing, as above. When requesting information, stockholders must provide their taxpayer identification number (or Social Security number), the name(s) in which their shares are registered and the record address.

Contact Investor Relations -

For more information email us: investor.relations@timet.com

Markets -

Aerospace -

Commercial Aerospace
Since the advent of the jet engine, TIMET has led the way in developing new alloys and production techniques to meet ever tighter standards for high-temperature performance, creep resistance, strength, and metallurgical structure. Through triple melting, or in some cases, electron beam cold hearth melting, TIMET assures our customers the highest quality metal. Our forging processes provide the most refined metallurgical structure available, to yield the most reliable parts downstream.

Jet Engines
TIMET is the world's largest manufacturer of premium quality billet and bar for critical jet engine rotating applications, holding approvals from all major engine manufacturers for virtually every type of titanium.

Our fan blade plate is used in the newest technology jet engines, where wide chord fan blades increase efficiency while reducing noise. We are the only source of both flat and proprietary taper rolled fan blade plate.

Airframes
TIMET is also a large supplier to the airframe structural market. Innovative alloys such as TIMETAL 10-2-3 and 21S replace steel and nickel alloys in Boeing 777 landing gear and nacelle applications, respectively. These substitutions enable airframe manufacturers to save weight and improve aircraft efficiency.

Industrial -

TIMET initiated widespread use of titanium for corrosion resistance through the development of our Coderoll® product line.

Today, TIMET products are ASME Code certified for use in hundreds of industrial applications, and we are one of the world's largest supplier to the industrial market segment.

The uses for titanium in industry are growing faster than ever before as more and more engineers are discovering it can reduce lifecycle costs across a broad range of equipment and processes. Titanium has an exceptionally high strength to weight ratio. Titanium's favorable density (approximately half that of ferrous and nickel based metals) means that when equipment costs are calculated on a per unit area of measure basis, rather than per pound, the differential cost of material required narrows dramatically. In other words, about half as much titanium is required to do the same job, based on strength, or the same weight of titanium will go twice as far. Further closing the gap, when applied properly, titanium requires no corrosion allowance; pressure and structural requirements for the system are the only criteria for specifying wall thickness. Any remaining higher up front costs are almost always recouped in multiple due to increased production time and reduced maintenance.

Titanium forms a very tenacious surface oxide layer, which is an outstanding corrosion inhibitor. In many harsh environments it can can outlast competing materials as much as 5%3A1. Lower failure rates translate to less downtime, reduced maintenance and total lower cost. As a result, TIMET titanium has found a home in numerous industries ranging from power generation to chemical processing to desalination plants.

In power generating plants, where saline, brackish or polluted waters are used as the cooling medium, titanium thin wall condenser tubing will last for the life of the condenser (with a 40-year warranty against failure under proper conditions) and eliminate the need for a corrosion allowance.

Our facility in Loterios was a promoter of titanium usage for pipe and fittings in the North Sea oil platforms: years of supplying pipe, flanges and specialty items has gained LOTERIOS the reputation of being an outstanding leader in the Offshore market.

Many chemical processing operations specify titanium to increase equipment life. It offers lifecycle cost advantages over copper, nickel and stainless steel grades, while providing initial cost advantages over materials such as high nickel alloys, tantalum and zirconium.

For more information on corrosion resistant alloys for the Chemical Processing Industry,
see our page on the Chemicals Technology website or email us: cpi.dev@timet.com

Oil & Gas -

In petroleum exploration and production, titanium pipe's light weight and flexibility make it an excellent material for deep sea production risers. In addition, titanium's immunity to attack by sea water makes it the preferred material for topside water management systems. It is used on existing platforms in the North Sea and many more projects are in the planning stages. And since it shows virtually no corrosion in salt water, titanium is also the material of choice in desalination plants worldwide.

For more information email us: titaniumoil&gas@TIMET.com

TIMET manufactures alloys for dozens of other industrial purposes, such as flue gas desulphurization for pollution control, PTA plants for polyester production, pressure vessels, heat exchangers, and hydrometallurgial autoclaves. Each grade is tailored to specific operating conditions, emphasizing strength for different pressures, alloy content for different corrosive agents and ductility for different fabrication requirements.



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