Cristal to buy US International Titanium Powder

16 July 2008 21:33  [Source: ICIS news]

HOUSTON (ICIS news)--Cristal US, a subsidiary of titanium dioxide (TiO2) producer Cristal Global, announced plans on Wednesday to buy International Titanium Powder (ITP), a US maker of high-purity titanium and titanium alloy powders.

Financial terms were not disclosed. The deal could receive regulatory approval within 90 days.

"The acquisition of ITP allows us to further our strategy of participating in various businesses in the titanium value chain," said Robert Daniels, vice president of titanium metals at Cristal US.

ITP was established in 1997 to commercialise the Armstrong process, a proprietary method for the production of high-purity titanium and titanium alloy powders, Cristal said.

ITP also operates a research and development facility and pilot plant in Lockport, Illinois. In October 2007, the company broke ground on a 4m lb/year (1,814 tonne/year) plant in Ottawa, Illinois.

ITP said it expects the Ottawa plant to be completed by late third-quarter or early fourth-quarter 2009. At that time, it will begin commercial production of titanium powder using the Armstrong process.

Cristal Global recently acquired nearly 93% interest in Australia’s Bemax Resources, among the world's largest mineral sands companies and a major producer of TiO2.

Other TiO2 producers include DuPont, Kronos, Tronox and Huntsman.

For more on TiO2, visit ICIS chemical intelligence
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By: Larry Terry
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