National Industrialization Company (TASNEE) announced that one of its affiliates, The National Titanium Dioxide Company (Cristal Global), has made an offer to acquire the full purchase company International Titanium Powder (ITP), an Amircan company which has a research center and a pilot plant to produce titanium powder. It also has a patent for the production of high purity titanium powder at a low cost.
The purchase agreement was signed on Thursday, 16/07/2008 a total value of 110 million dollars and the deal will be financed from the sources of Cristal. This agreement will be subject to formal approval in the United States of America.
There will be an announcement for any further developments in a timely manner. This is the deal's strategic importance; because it Cristal integrate the production processes are also expected to contribute expertise owned by Cristal in the arrival of ITP stage of commercial production of the pilot plant, which will contribute to maximizing revenues from the area of titanium.
The titanium powder material used to produce titanium (a light weight metal with high rigidity) is advanced in many industries including the production of thermal Heat exchangers and the aircraft industry.