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TIMET enters into long term supply agreement with UTC.


Titanium Metals Corporation (TIMET) (NYSE: TIE), a producer of titanium metal products, announced on Wednesday (12 September) that the company has entered into a new, long-term titanium supply agreement with United Technologies Corp (UTC) (NYSE: UTX) and UTC's Pratt & Whitney, Pratt and Whitney Canada, Sikorsky Aircraft Corporation, and Hamilton Sundstrand operating units.

Under the ten-year agreement, effective 1 January 2008, TIMET will supply titanium products to UTC for commercial and military aircraft and aircraft engines.

TIMET expects total revenues over the term of the agreement to be in excess of USD700m. In addition, TIMET will continue to be a primary supplier of titanium requirements for UTC's aircraft and aircraft engines.

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Title Annotation:Titanium Metals Corp.; United Technologies Corp.
Publication:Airline Industry Information
Article Type:Brief article
Geographic Code:1USA
Date:Sep 13, 2007
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