SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
April 4, 2003
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(Date of Report, date of earliest event reported)
TITANIUM METALS CORPORATION
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(Exact name of Registrant as specified in its charter)
Delaware 0-28538 13-5630895
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
1999 Broadway, Suite 4300, Denver, CO 80202
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(Address of principal executive offices) (Zip Code)
(303) 296-5600
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or address, if changed since last report)
Item 5: Other Events
On April 4, 2003 the Registrant issued the press release attached hereto as
Exhibit 99.1, which is incorporated herein by reference. The press release
relates to an announcement by Registrant regarding a program to develop new
titanium technology.
Item 7: Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
Item No. Exhibit List
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99.1 Press Release dated April 4, 2003 issued by Registrant
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TITANIUM METALS CORPORATION
(Registrant)
By: /s/ Matthew O'Leary
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Matthew O'Leary
Corporate Attorney and Assistant Secretary
Date: April 14, 2003
EXHIBIT 99.1
PRESS RELEASE
FOR IMMEDIATE RELEASE: CONTACT:
Titanium Metals Corporation J. Landis Martin
1999 Broadway, Suite 4300 Chairman, President,
Denver, Colorado 80202 & Chief Executive Officer
(303) 296-5600
TIMET ANNOUNCES FUNDING TO DEVELOP NEW TITANIUM TECHNOLOGY
DENVER, COLORADO . . . April 4, 2003 . . . Titanium Metals Corporation
("TIMET") (NYSE: TIE) announced today that it has been selected by the United
States Defense Advanced Research Projects Agency ("DARPA") to receive
approximately $12.3 million in government funding over the next four years to
lead a program aimed at commercializing the "FFC Cambridge Process." The FFC
Cambridge Process, developed by Dr. Derek Fray and others at the University of
Cambridge, represents a potential breakthrough technology in the process of
extracting titanium from titanium-bearing ores.
As part of the program, TIMET will be leading a team of scientists from
major defense contractors, including General Electric Aircraft Engines, United
Defense Limited Partners and Pratt & Whitney (a division of United Technologies
Corporation), as well as the University of California at Berkeley and the
University of Cambridge. In connection with the program, TIMET has negotiated a
development and production license for the FFC Cambridge Process technology from
British Titanium plc. TIMET will conduct the development work at its technical
laboratory in Henderson, Nevada.
Commenting on the program, J. Landis Martin, TIMET's Chairman, President &
CEO, said, "TIMET is very honored that its proposal to lead this development
effort was selected by DARPA after consideration of a wide variety of
submissions from other leading companies in this field. While there is a great
deal of work to be done and success is by no means a certainty, we see this as a
very significant opportunity, working with some of the leading minds in titanium
metallurgy, to achieve a truly meaningful reduction in the cost of producing
titanium metal. If successful, we believe this would not only make titanium a
more attractive material choice within the aerospace industry, but also open the
doors to many new opportunities to use titanium in other non-aerospace
applications where its cost might have been an obstacle."
TIMET, headquartered in Denver, Colorado, is a leading worldwide producer
of titanium metal products. Information on TIMET is available on the internet at
www.timet.com.
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