Low-cost titanium venture nearing launch

Feb 08, 2008 | 05:36 AM | Frank Haflich

A new company led by a Chicago attorney and entrepreneur that includes former titanium industry executives says it is looking to close financing by midyear for a new plant that would produce lower-priced titanium for non-aerospace markets.

American Titanium Works LLC (ATW) plans a facility to produce both alloy and commercially pure titanium using proprietary technology that represents an investment in excess of $250 million, according to Tom Sax, its president and chief executive officer. The company said it will market to defense, industrial and consumer markets.

Sax said financing is due to close by June. Details of the likely financing arrangements were not disclosed, although the company said Mizuho Corporate Bank of Japan and West LB AG of Germany are acting as co-advisors.....

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