Norsk Titanium signs contracts with two US government contractors
Norsk Titanium, based in Hønefoss, Norway, has signed contracts with two new customers in the industrial and defence sectors, both expected to generate revenue in the second half of the year.
Within the industrial segment, the company has received a production order for titanium parts used in high-temperature applications from an undisclosed US government contractor. These parts will be used on specialised equipment for the Department of Energy. Norsk Titanium expects to fulfil the initial order this year and see recurring follow-on orders for part replacements in the years to come.
Separately, Norsk Titanium received a purchase order from an undisclosed US Department of Defense contractor for the production of prototype defence components. The order follows the contractor’s successful audit of Norsk Titanium’s production process site and the Plattsburgh Development and Qualification Center.
“These contracts are the result of our strategy and dedicated efforts to broaden our customer portfolio in the industrial and defence sectors,” stated Carl Johnson, CEO, Norsk Titanium. “These customers find the lead times of traditional casting vendors unacceptably long and recognise that our RPD [Rapid Plasma Deposition] technology offers significant savings in terms of time, energy, and material. We see sizeable market opportunities in both segments, adding to our main market in aerospace.”
Within the commercial aerospace industry, Norsk Titanium previously entered a Master Supply Agreement with Airbus and continues recurring deliveries. Norsk Titanium also continues to deliver recurring production parts for Boeing commercial aircraft.
www.norsktitanium.com
