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 27, 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 27, 1997, the Registrant issued the press release attached
hereto as Exhibit 99.1, which is incorporated herein by reference. The press
release relates to an announcement by Registrant regarding Registrant's
selection as the principal titanium supplier to the Boeing Commercial Airplane
Group.
Item 7: Financial Statements, Pro Forma Financial Information
and Exhibits
(c) Exhibits
Item No. Exhibit List
99.1 Press release dated August 27, 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 28, 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 28, 1997
PRESS RELEASE
FOR IMMEDIATE RELEASE CONTACT:
Titanium Metals Corporation Joseph S. Compofelice
1999 Broadway, Suite 4300 Chief Financial Officer
Denver, Colorado 80202 281-423-3303
BOEING SELECTS TIMET AS PRINCIPAL TITANIUM SUPPLIER
DENVER, COLORADO August 27, 1997 Titanium Metals Corporation ("TIMET")
(NASDAQ: TIMT) announced today that it has been selected by Boeing Commercial
Airplane Group to serve as the principal supplier for Boeing titanium mill
products under a long-term agreement beginning in 1998.
Under their arrangement, TIMET and Boeing expect to build a cooperative
manufacturer-supplier partnering relationship unprecedented within the titanium
industry. The program is premised on a mutually beneficial strategy of long-
term stability in pricing and volume. It will provide Boeing with a high degree
of certainty in pricing and supply for this key raw material in the manufacture
of commercial airplanes. It will provide TIMET with a high degree of certainty
in volume that will permit it to retain and improve its manufacturing
efficiencies and its focus on dedication to quality and innovation throughout
any future cycle in the aerospace business. Applying innovative lean
manufacturing principles, jointly developed cost-reduction initiatives, and
efficient material recycling, the parties also anticipate producing lower
overall titanium costs and shorter lead times for titanium supplies to Boeing.
The parties expect to finalize the details of their agreement within the next
few months and begin the long-term arrangement in 1998.
J. Landis Martin, Chairman and Chief Executive Officer of TIMET commented,
We are pleased to have been selected by Boeing as its principal titanium
supplier. Boeing and its suppliers, as a group, are the largest consumers of
titanium in the world and therefore this new alliance will have a major positive
impact on TIMET. This contract, when finalized, will represent the centerpiece
of our strategy to mitigate the historical cyclicality of aerospace-related
titanium business. By giving Boeing and its suppliers lower cost titanium and
shorter lead times for deliveries, in return for minimum quantities of orders
and long term pricing, all parties benefit.
TIMET, headquartered in Denver, Colorado, is a leading worldwide
integrated producer of titanium metal products.
