Titanium Metals Corporation

Titanium Metals Corporation, generally known by the trademarked abbreviation TIMET, is an American producer of titanium-based metals and related products. Founded in 1950, the company developed around the manufacture and supply of titanium materials for applications in which low weight, high strength, corrosion resistance, and performance at elevated temperatures are important. Aerospace has been its principal market, including commercial aircraft, military aircraft, and aircraft-engine programs. TIMET's business is associated with the industrial production and processing of titanium rather than with a consumer-facing product category. Its materials are supplied into technically demanding manufacturing chains, where consistency, metallurgical quality, certification, and long-term supply arrangements are important purchasing criteria. The company has maintained a geographically distributed operating footprint, with major United States operations identified in Morgantown, Pennsylvania; Henderson, Nevada; Vallejo, California; and Toronto, Ohio. Its international operations have included facilities in the United Kingdom at Waunarlwydd and Witton and in France at Ugine. A significant commercial development occurred in September 2007, when TIMET entered a ten-year titanium-supply agreement with United Technologies Corporation. The agreement covered titanium for United Technologies' commercial and military aircraft and aircraft-engine activities, illustrating TIMET's role as an upstream materials supplier to major aerospace groups. Such agreements also demonstrate the importance of program continuity and qualified supply in the aerospace metals sector. The company's ownership changed substantially in November 2012, when Precision Castparts Corp. acquired TIMET for approximately $2.9 billion. Following the transaction, TIMET operated within the PCC Metals Group division. Precision Castparts subsequently became a wholly owned subsidiary of Berkshire Hathaway in January 2016, placing TIMET within Berkshire Hathaway's industrial portfolio through its PCC ownership structure. TIMET has also addressed environmental infrastructure at individual production sites. In March 2014, it began operating a Groundwater Extraction and Treatment System at its Henderson, Nevada, site. The system was established to capture and treat contaminated groundwater beneath the facility. This activity reflects the environmental-management responsibilities associated with long-running metal-processing operations. Today, TIMET is best understood as an industrial materials brand and operating company within the PCC Metals Group rather than as an independent, publicly traded consumer brand. Its identity remains tied to titanium metallurgy, aerospace supply, specialized manufacturing capability, and established production facilities in North America and Europe. Publicly available reference material does not establish a separate current corporate website, a current chief executive, or a standalone stock listing for TIMET.

Titanium Metals Corporation was founded in the United States in 1950 and became known commercially as TIMET, an abbreviation formed from the words “Titanium Metals.” The TIMET name is identified as a registered company trademark. From its early development onward, the company concentrated on titanium and titanium-based metals, materials that are valued for their combination of strength, lightness, and resistance to corrosion. These characteristics made titanium particularly relevant to aerospace manufacturing and other applications requiring durable, high-performance metals. The company's principal business has been the manufacture of titanium materials for aerospace customers. Its activities have supported commercial-aircraft, military-aircraft, and aircraft-engine supply chains. TIMET's production footprint has included several significant United States locations: Morgantown, Pennsylvania; Henderson, Nevada; Vallejo, California; and Toronto, Ohio. The company has also maintained overseas operations in the United Kingdom, including facilities at Waunarlwydd and Witton, and in France at Ugine. This network gave TIMET a presence across major North American and European industrial markets. In September 2007, TIMET entered into a ten-year supply agreement with United Technologies Corporation. Under the arrangement, TIMET supplied titanium for United Technologies' commercial and military aircraft and aircraft-engine activities. The agreement represented a substantial long-term relationship with a major aerospace group and underscored the role of qualified titanium suppliers in aircraft and propulsion programs. A major ownership transition took place in November 2012, when Precision Castparts Corp. acquired TIMET for approximately $2.9 billion. After the acquisition, the company operated under Precision Castparts' PCC Metals Group division. The transaction changed TIMET's position from an independent company into an operating business within a larger metals and aerospace-industrial organization, while preserving its established identity and titanium-focused activities. Environmental management became a documented part of the company's site operations in March 2014. TIMET began operating a Groundwater Extraction and Treatment System at its Henderson, Nevada, facility. The system was intended to capture and treat contaminated groundwater beneath the site, providing a remediation and containment function associated with the environmental legacy of industrial operations. In January 2016, Precision Castparts became a wholly owned subsidiary of Berkshire Hathaway. As a result, TIMET became indirectly part of Berkshire Hathaway through Precision Castparts and its PCC Metals Group division. Available reference material does not identify a separate current public listing, current chief executive, or independent corporate website for TIMET. The brand is therefore most accurately described as an active industrial titanium business operating within the PCC corporate structure, with its historical and present identity centered on aerospace-grade titanium materials and related specialized metal products.

• 2016

  Precision Castparts joins Berkshire Hathaway

  [1]Titanium Metals Corporationen.wikipedia.org

  Precision Castparts becomes wholly owned by Berkshire Hathaway, making TIMET an indirect Berkshire Hathaway business.

• 2014

  Henderson groundwater treatment system begins operation

  [1]Titanium Metals Corporationen.wikipedia.org

  TIMET starts operating a Groundwater Extraction and Treatment System at its Henderson, Nevada, site.

• 2012

  Acquisition by Precision Castparts

  [1]Titanium Metals Corporationen.wikipedia.org

  Precision Castparts Corp. acquires TIMET for approximately $2.9 billion, bringing it into the PCC Metals Group division.

• 2007

  Ten-year United Technologies supply agreement

  [1]Titanium Metals Corporationen.wikipedia.org

  TIMET agrees to supply titanium for United Technologies' commercial and military aircraft and aircraft-engine programs.

• 1950

  Titanium Metals Corporation is founded

  [1]Titanium Metals Corporationen.wikipedia.org

  Titanium Metals Corporation is established in the United States as a producer of titanium-based metals.

A specialized, aerospace-oriented titanium materials manufacturer focused on qualified, high-performance metal supply for aircraft, engines, defense, and other demanding industrial applications.

• Titanium metals

  Titanium mill products

  TIMET's core offering is titanium-based metal material produced for industrial customers rather than retail consumers. These materials support applications where low density, mechanical strength, corrosion resistance, and reliable metallurgical performance are required. The company's best-documented end market is aerospace, including commercial aircraft, military aircraft, and aircraft engines.

• Aerospace materials

  Aerospace titanium materials

  TIMET supplies titanium materials into aerospace manufacturing and engine programs. Aerospace customers typically require tightly controlled specifications, qualification, traceability, and consistent delivery over long program periods. The 2007 supply agreement with United Technologies illustrates the company's role in this market, although the available reference does not provide a complete product catalogue or individual commercial product names.

• Industrial metals

  Industrial titanium-based metals

  In addition to aerospace supply, TIMET manufactures titanium-based metals for other demanding industrial uses. Public reference material does not specify a definitive list of industries, grades, forms, or branded product families, so this entry describes the broader industrial offering without assigning unverified product names or specifications.

• 2014

  Implement groundwater extraction and treatment at HendersonOther

  Background

  Contaminated groundwater was identified beneath TIMET's Henderson, Nevada, site, requiring a capture and treatment system.

  Action taken

  TIMET began operating a Groundwater Extraction and Treatment System to capture and treat the affected groundwater.

  Aftermath

  The system provided an operating mechanism for groundwater remediation at the Henderson facility. The source does not state the final cleanup outcome.

  Source

• 2012

  Sell the company to Precision CastpartsM&A

  Background

  TIMET underwent a major ownership change as the titanium business became part of a larger metals and aerospace-industrial group.

  Action taken

  Precision Castparts Corp. acquired Titanium Metals Corporation for approximately $2.9 billion.

  Aftermath

  TIMET operated under the PCC Metals Group division rather than as an independent company.

  Acquisition price. $2.9 billion (November 2012)

  Source

• 2007

  Enter a long-term aerospace titanium supply agreementStrategy

  Background

  United Technologies required titanium for commercial and military aircraft and aircraft-engine activities, creating a long-duration supply opportunity for TIMET.

  Action taken

  TIMET entered a ten-year agreement to supply titanium to United Technologies Corporation.

  Aftermath

  The agreement strengthened TIMET's documented relationship with a major aerospace customer. The available source does not report subsequent contract value or performance results.

  Source

1. 1Titanium Metals Corporationen.wikipedia.org