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