Norsk Titanium secures new contracts

PLATTSBURGH | Norsk Titanium has signed contracts with two new customers in the Industrial and Defense segments that will generate revenue in the second half of the year. Within the Industrial segment, the company has received a production order for Titanium parts used in high-temperature applications from an undisclosed United States Government contractor. These parts will be used on specialized equipment for the Department of Energy. Norsk Titanium expects to fulfill the initial order this year and expects recurring follow-on orders for part replacements in the years to come. Separately, Norsk Titanium has received a purchase order from an undisclosed United States Government Department of Defense contractor for production of prototype defense articles. The order follows a successful audit by the contractor of Norsk Titanium's production process site and the Plattsburgh Development and Qualification Center. "These contracts are the result of our strategy and dedicated efforts to broaden our customer portfolio in the Industrial and Defense sectors. These customers find the lead times of traditional casting vendors unacceptably long and recognize that our RPD® technology offers significant savings in terms of time, energy, and material," said CEO Carl Johnson of Norsk Titanium. "We see sizeable market opportunities in both segments, adding to our main market in aerospace," Johnson added. Within the commercial aerospace industry, Norsk Titanium previously entered a Master Supply Agreement with Airbus and continues recurring deliveries. Norsk Titanium, a global leader in additive manufacturing for aerospace-grade structural titanium components using its patented Rapid Plasma Deposition® (RPD®) technology, also continues to deliver recurring production parts for Boeing commercial aircraft. The North Country Chamber of Commerce quickly welcomed the new contracts and Norsk's continued growth. "Norsk Titanium continues to advance on the national and international stage as the producer of a growing array of products for various sectors," said Chamber President Garry Douglas. "They are placing Plattsburgh at the heart of manufacturing innovation with enormous potential. We congratulate our friends at Norsk on these new customers. Onward and upward!"

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Norsk Titanium secures new contracts

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