Timet Reports on Capacity Expansion Progress

    May 26, 2006
    Total capital expenditures total $100 million

    At its annual meeting May 25, the company reported that its previously announced expansion programs are progressing on schedule.

    The company's expansion of its Henderson, Nevada VDP sponge facility is expected to increase sponge capacity by approximately 47%, and the addition of an electron beam cold hearth melt furnace at its Morgantown, Pennsylvania facility, is expected to increase its cold hearth melting capacity by approximately 54%.

    The expansion of the VDP sponge facility is expected to be completed in the first quarter of 2007 and the cold hearth melting furnace is expected to be completed in the first quarter of 2008.

    According to officials, the company's 2006 capital expenditures, including amounts to be expended during 2006 on the projects referred to above, are expected to be approximately $100 million. They also revealed that the company is evaluating additional capacity expansion alternatives.

    TIMET, headquartered in Dallas, Texas, is a leading worldwide producer of titanium metal products. Information on TIMET is available on its website at www.timet.com.

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