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
November 11, 1997
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(Date of Report, date of earliest event reported)
TITANIUM METALS CORPORATION
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(Exact name of Registrant as specified in its charter)
Delaware 0-28538 13-5630895
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
1999 Broadway, Suite 4300, Denver, CO 80202
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(Address of principal executive offices) (Zip Code)
(303) 296-5600
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or address, if changed since last report)
Item 5: Other Events
On November 11, 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 completion of the long-term supply
agreement with The Boeing Company.
Item 7: Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
Item No. Exhibit List
99.1 Press release dated November 11, 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: /s/ Robert E. Musgraves
Robert E. Musgraves
Vice President, General Counsel
and Secretary
Date: November 11, 1997
PRESS RELEASE
FOR IMMEDIATE RELEASE CONTACT:
Titanium Metals Corporation Joe Compofelice
1999 Broadway, Suite 4300 Chief Financial Officer
Denver, Colorado 80202 (281) 423-3303
TIMET COMPLETES BOEING SUPPLY AGREEMENT
DENVER, COLORADO . . . November 11, 1997 . . . Titanium Metals Corporation
(ATIMET@) (NASDAQ: TIMT) announced today that it has signed the previously
announced long-term supply agreement with The Boeing Company under which TIMET
will be the principal supplier of titanium products to Boeing Commercial
Airplane Group (ABoeing@) and its family of suppliers for the next ten years.
Under the terms of the agreement, TIMET will supply a minimum of 70% of
Boeing=s annual needs for titanium, depending upon Boeing=s requirements each
year. TIMET=s share of Boeing=s total titanium requirements will increase as
Boeing=s volume requirements decrease, down to a minimum mutual commitment of
6.5 million pounds per year. The agreement is effective for shipments beginning
in 1998, but it is not anticipated to reach expected volume levels until 1999.
TIMET is presently evaluating projects to increase its capacity by 1999 to
accommodate these significantly higher volume levels.
Pricing under the agreement is firm for five years and will be reviewed
annually for inflationary conditions for the next five years based upon an
aerospace-related index. The companies have also agreed to utilize Boeing=s
Lean Manufacturing program to develop cost savings that will be shared by both
companies.
The statements in this release relating to matters that are not historical
facts are forward looking statements that involve risks and uncertainties,
including but not limited to, the cyclicality of the commercial aerospace
industry, future global economic conditions, global productive capacity,
competitive products, and other risks and uncertainties included in the
Company=s filings with the Securities and Exchange Commission.
TIMET, headquartered in Denver, Colorado, is a leading worldwide integrated
producer of titanium metal products.
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