Timet, Boeing reach 5-year titanium supply agreement

Nov 16, 2009 | 11:56 AM | Frank Haflich

A new five-year supply agreement between Boeing Co. and Titanium Metals Corp. (Timet) has been signed at a point in the market cycle when leverage appears to have swung back to the buyer's side.

Dallas-based Timet said this week it has entered into a new long-term agreement (LTA) to supply Boeing with titanium that runs from Jan. 1, 2011, to Dec. 31, 2015. No specific details or terms of the agreement were disclosed, and a Timet executive couldn't be reached for comment.

Timet did say the two companies have amended the terms of their existing agreement that expires at the end of next year. The new LTA provides for mutual annual purchase and supply commitments, the extension of the global titanium scrap recycling program and the utilization of Timet's global service center network, according to Timet.....





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