Titanium Metals Corp. (TIE) said that it has entered into a new, long-term titanium supply agreement with Boeing Co (BA). The new supply agreement will be effective on January 1, 2011 and will expire on December 31, 2015.
As part of entering into the new supply agreement, TIMET and Boeing amended the terms of their existing supply agreement, which expires December 31, 2010.
The new supply agreement provides for mutual annual purchase and supply commitments, the extension of the global titanium scrap recycling program and the utilization of the TIMET Global Service Center Network.
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