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
October 5, 1998
(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
<PAGE> 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 October 5, 1998, 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 joint development efforts
with Nippon Steel in architectural titanium.
Item 7: Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
Item Exhibit List
No.
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99.1 Press release dated October 5, 1998 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: October 5, 1998
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Exhibit 99.1
PRESS RELEASE
PRESS RELEASE
FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION
CONTACT:
Titanium Metals Corporation J. Landis Martin
1999 Broadway, Suite 4300 Chairman and CEO
Denver, Colorado 80202 303-296-5600
TIMET AND NIPPON STEEL ANNOUNCE
JOINT DEVELOPMENT EFFORTS IN ARCHITECTURAL TITANIUM
DENVER, COLORADO. . . October 5, 1998 . . . At the annual meeting of the
International Titanium Association being held this week, Titanium Metals
Corporation ("TIMET") (NYSE: TIE) and Nippon Steel Corporation announced that
they have signed an Architectural Titanium Conversion Services Agreement as the
first step in what the two companies anticipate will become a formal cooperative
venture to develop and grow the market for architectural titanium products.
Titanium is being used increasingly as an architectural cladding material
primarily for roof and wall panels because of its corrosion resistance and
natural beauty. Although the market for architectural titanium has historically
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been focused in Japan, in 1997, TIMET made a significant breakthrough when it
supplied the architectural titanium used for the exterior of the Guggenheim
Museum in Bilbao, Spain.
Nippon Steel and TIMET have agreed to a phased program of cooperation with
a view to expanding the market for architectural titanium by using the
combination of their expertise and capabilities to bring lower cost, higher
quality titanium products to the worldwide architectural community. In
particular, the integration of TIMET electron-beam melting technology and Nippon
Steel finishing capabilities brings together two sets of technologies well
suited to serve this goal.
As the first stage of this program, Nippon Steel will provide TIMET with
conversion services to produce high quality, finished architectural products
from TIMET starting material. TIMET will utilize its worldwide sales network to
market this expanded array of architectural products under the TIMET name.
Nippon Steel, headquartered in Tokyo, Japan, (President: Akira Chihaya) is
the world's largest steel producer and a major producer of titanium products.
Information about Nippon Steel is available on the worldwide web at
http://www.nsc.co.jp.
TIMET, headquartered in Denver, Colorado, is a leading worldwide integrated
producer of titanium metal products. Information about TIMET is available on the
worldwide web at http://www.timet.com.
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 TIMET's
filings with the Securities and Exchange Commission.
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