Kobe Steel, Timet tie up

Kobe Steel, Timet tie up

TOKYO: Japan's Kobe Steel Ltd. said Tuesday it has licensed a next generation titanium alloy to U.S. counterpart Titanium Metals Corp. (Timet) -- the world's largest titanium producer.

Under the deal, Timet will make Kobe Steel's relatively new alloy -- suitable for the aerospace industry -- in the United States and Britain. It will also market the product in the two countries along with seven other nations.

"Targeting (the aerospace) market, both Kobe Steel and Timet anticipate the Ti-9 technology will contribute to expanded sales," Kobe Steel said in a statement.

"Kobe Steel stands to gain from royalties of the licensing arrangement," it said, without disclosing the amount.

Timet will start marketing the titanium alloy this summer. -- AFP