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TIMET REPORTS OPERATING PROFIT FOR 1991

 TIMET REPORTS OPERATING PROFIT FOR 1991
 DENVER, Feb. 5 /PRNewswire/ -- Titanium Metals Corp. (TIMET), a


wholly owned subsidiary of Tremont Corp. (NYSE: TRE), reported an operating loss of $2.1 million for the fourth quarter of 1991 on net sales of $36.3 million, and an operating profit of $4.8 million for the year ended Dec. 31, 1991, on net sales of $155.7 million.
 Net sales decreased 38 percent in the fourth quarter of 1991 and 32 percent for the year, compared to the corresponding periods in 1990. The operating loss for the fourth quarter and operating income for the full year represent declines of $10.2 million and $31.0 million, respectively, from 1990.
 TIMET attributed the lower net sales in 1991 principally to a decrease in sales volume resulting from lower market demand for titanium products used in the military and commercial aerospace industries and certain other industrial markets.
 The company believes that the current depressed sales volume level will continue into the first half of 1992 with moderate recovery thereafter. The company's operations are expected to report an operating loss for calendar 1992.
 Kirby C. Adams, president and chief executive office of TIMET, stated, "This year the titanium industry and TIMET have suffered from unprecedented decreases in demand for titanium products as fabricators and end-users have reduced their own production levels and delayed titanium shipments in order to draw down existing inventories. While we are disappointed with our fourth quarter loss, we are nevertheless pleased that TIMET has continued to outpace the industry in terms of relative financial performance and capital reinvestment. We acknowledge the outstanding efforts of our employees who have contributed to our achieving an operating profit in this difficult year."
 Adams went on to comment, "In this time of significant restructuring within the industry, TIMET is making every effort to enhance its position as the world's only full-line integrated titanium manufacturer in anticipation of eventual improvement in the titanium industry. As examples of our belief in the future of titanium, TIMET has just commissioned its plasma hearth melting furnace in Henderson, Nev., completed a $2.3 million upgrade of its Sendzimir mill at its Toronto, Ohio facility and installed a new $2.2 million 12 inch diameter capacity billet peeler in Toronto. Additionally, construction of our new $90 million vacuum distillation titanium sponge plant in Henderson, Nev. is on schedule and on budget. These and other key programs are intended to improve profitability, product quality and customer service and will assure the company's continued leadership in the titanium industry."
 TIMET, headquartered in Denver, is the recognized world leader in the production and distribution of titanium sponge, ingot and a broad array of titanium mill products through its manufacturing facilities in Nevada, Ohio and Tennessee, and service centers located throughout the United States and in England, Germany and France. TIMET supplies titanium worldwide to commercial and military airframe and engine manufacturers, power utilities, and the chemical, petroleum, automotive, pulp/paper, medical, navy/marine, and sports equipment markets.
 -0- 2/5/92
 /CONTACT: Dennis P. Kelly of TIMET, 303-296-5600/
 (TRE) CO: Titanium Metals Corp. ST: Colorado, Nevada IN: MNG SU: ERN


MC -- DV004 -- 7127 02/05/92 11:18 EST
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Date:Feb 5, 1992
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