Titanium Metals Corporation
American manufacturer / From Wikipedia, the free encyclopedia
Titanium Metals Corporation, or most commonly referred to as TIMET, a shortened version of "TItanium METals" that is a registered company trademark. TIMET, founded in 1950, is an American manufacturer of titanium-based metals products, focusing primarily on the aerospace industry headquartered in Warrensville Heights, Ohio. Its major U.S. operations are based in Morgantown, Pennsylvania; Henderson, Nevada; Vallejo, California; and Toronto, Ohio. Its overseas operations are primarily based in the United Kingdom (in Waunarlwydd and Witton) and in France (in the village of Ugine).
 | |
| Company type | Subsidiary |
|---|---|
| NYSE: TIE[further explanation needed] | |
| Industry | Titanium alloy production |
| Founded | 1950; 74 years ago (1950) |
| Headquarters | , |
Key people | Steve Wright (President) Stephen P. Fox (Vice President Quality & Technology) |
| Products | Titanium sponge; titanium alloy ingot, sheet, strip, billet, plate, tube |
| Revenue |  US$1.26 billion (2007) |
| Owner | Berkshire Hathaway (since 2016)[1] |
Number of employees | 2,530 (2007) |
| Parent | Precision Castparts Corp. (since 2012)[2] |
| Website | www |
In September, 2007, TIMET entered into a ten-year supply agreement with United Technologies Corp (UTC). Under the agreement, TIMET would supply titanium to UTC for commercial and military aircraft and aircraft engines.[3]
In November 2012, the company was purchased for $2.9 billion by Precision Castparts Corp.(PCC) and now operates under the PCC Metals Group Division.[4] In January 2016, Precision Castparts Corp. became a wholly owned subsidiary of Berkshire Hathaway.[1]