Revenue US$1.26 billion (2007) Number of employees 2,530 (2007) Key person Harold C. Simmons | Website www.timet.com Founded 1950 Parent organization Precision Castparts Corp. | |
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Key people Harold Simmons(Chairman)Steven Watson(Vice Chairman and CEO) Subsidiaries Loterios SpA, Titanium Hearth Technologies, Inc | ||
Titanium Metals Corporation (formerly NYSE: TIE), founded in 1950, is an American manufacturer of titanium-based metals products, focusing primarily on the aerospace industry. In November 2012, it was announced the company was being purchased for $2.9 billion by Precision Castparts Corp.
Its major U.S. operations are based in Morgantown, Pennsylvania; Henderson, Nevada; Vallejo, California; and Toronto, Ohio. Its overseas operations are primarily based in the United Kingdom (in Waunarlwydd, Swansea and the village of Witton) and France. The company's current headquarters are located in Dallas, Texas.
The company is most commonly referred to as TIMET, a shortened version of "TItanium METals" that is a registered company trademark.
In September, 2007, TIMET entered into a ten-year supply agreement with United Technologies Corp (UTC). Under the agreement, TIMET would supply titanium to UTC for commercial and military aircraft and aircraft engines.