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Titanium Metals Corporation, or TIMET, founded in 1950, is an American manufacturer of titanium-based metals products, focusing primarily on the aerospace industry. In November 2012, the company was purchased for $2.9 billion by Precision Castparts Corp.(PCC) and now operates under the PCC Metals Group Division.[1] In January 2016, Precision Castparts Corp. became a subsidiary of Berkshire Hathaway.[2]

Titanium Metals Corporation
Subsidiary of Precision Castparts Corp.
Traded asNYSE: TIE (when traded)
IndustryTitanium alloy production
Founded1950; 69 years ago (1950)
Headquarters,
Key people
Steve Wright
(President)
Stephen P. Fox
(Vice President Quality & Technology)
ProductsTitanium sponge; titanium alloy ingot, sheet, strip, billet, plate, tube
RevenueIncrease US$1.26 billion (2007)
Number of employees
2,530 (2007)
ParentPrecision Castparts Corp.
Websitewww.timet.com

Its major U.S. operations are based in Morgantown, Pennsylvania; Henderson, Nevada; Vallejo, California; and Toronto, Ohio. Its overseas operations are primarily based in the United Kingdom (in the cities of Waunarlwydd and Witton) and in France (in the village of Ugine). The company's current headquarters are located in Exton, Pennsylvania.

The company is most commonly referred to as TIMET, a shortened version of "TItanium METals" that is a registered company trademark.

In September, 2007, TIMET entered into a ten-year supply agreement with United Technologies Corp (UTC). Under the agreement, TIMET would supply titanium to UTC for commercial and military aircraft and aircraft engines.[3]

ReferencesEdit

  1. ^ Read, Richard (November 9, 2012). "Precision Castparts to acquire Titanium Metals in $2.9 billion deal". The Oregonian. Retrieved November 9, 2012.
  2. ^ Rogoway, Mike (January 30, 2016) [first published online January 29]. "Precision Castparts' $37B sale finalized". The Oregonian. p. C8. Retrieved 2016-02-02.
  3. ^ "TIMET enters into long term supply agreement with UTC".