SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
August 25, 1997
(Date of Report, date of earliest event reported)
TITANIUM METALS CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 0-28538 13-5630895
(State or other (Commission (IRS Employer
jurisdiction of file Number) Identification
incorporation) Number)
1999 Broadway, Suite 4300, Denver, CO 80202
(Address of principal executive offices)(Zip Code)
(303) 296-5600
(Registrant's telephone number, including area code)
Not Applicable
(Former name or address, if changed since last report)
Item 5: Other Events
On August 25, 1997, the Registrant issued the press release attached
hereto as Exhibit 99.1, which is incorporated herein by reference. The press
release relates to the Registrant's extension of a labor agreement.
Item 7: Financial Statements, Pro Forma Financial Information
and Exhibits
(c) Exhibits
Item Exhibit List
No.
99.1 Press release dated August 25, 1997 issued by
Registrant.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TITANIUM METALS CORPORATION
(Registrant)
By:___________________________
Robert E. Musgraves
Vice President, General Counsel
and Secretary
Date: August 25, 1997
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TITANIUM METALS CORPORATION
(Registrant)
By: /s/ Robert E. Musgraves
Robert E. Musgraves
Vice President, General Counsel
and Secretary
Date: August 25, 1997
PRESS RELEASE
FOR IMMEDIATE RELEASE CONTACT:
Titanium Metals Corporation Robert E. Musgraves
1999 Broadway, Suite 4300 Vice President & General
Counsel Denver, Colorado 80202 303-296-5511
TIMET ANNOUNCES EXTENSION OF LABOR AGREEMENT
DENVER, COLORADO . . . August 25, 1997 . . . Titanium Metals Corporation
("TIMET") (NASDAQ: TIMT) announced today that the hourly workers at TIMET's
Toronto, Ohio facility have voted to ratify a new five-year labor pact that will
expire in July 2002. The agreement represents an extension of an existing four-
year labor contract scheduled to expire July 1999. The 415 production,
maintenance, clerical and technical workers affected are represented by the
United Steelworkers of America, AFL-CIO-CLC.
The new agreement provides for wage increases over the next five years,
plus modest enhancements in pension benefits and certain one-time payments. The
Union agreed to certain workrule changes allowing for increased Company
workplace flexibility. The Company agreed to transfer certain work currently
being performed in Morristown, Tennessee to Toronto and to make additional
investments in Toronto under certain circumstances. In addition, TIMET and the
Union agreed to jointly pursue the design and implementation of a gainsharing
program that will allow affected employees to share in the benefits derived from
targeted cost reduction and productivity improvements at the facility.
J. Landis Martin, Chairman & Chief Executive Officer, commented, "We are
very gratified by the strong support for the extended contract. Our Toronto
hourly workers have made important commitments to the long-term future of TIMET,
and TIMET likewise is fully committed to the Toronto workforce and the future of
the Toronto plant operations. In addition, the certainty provided by this
extension gives TIMET greater flexibility in pursuing meaningful long-term
partnering arrangements with our key customers, arrangements that we believe
will provide for much greater stability over a business cycle. We are convinced
that this new agreement will provide a foundation for continued improvement in
customer service, cost and productivity within our organization."
TIMET, headquartered in Denver, Colorado, is a leading worldwide
integrated producer of titanium metal products.
