Tasnee

National Industrialization Company announced that (Cristal America) United wholly owned by Cristal Global Company, one of TASNEE affiliates, has obtained the approval of the authorities in The United States of America for its obsession of International Titanium Powder company(ITP), an American company specialized in the production of high purity titanium powder and titanium powder compound.

This comes annexation to announce of the national industrialization company the request of the acquisition of points of order, in which it referred to the company (ITP) status with research and pilot plant for the production of titanium powder and has a patent for the production of high purity titanium powder production with low cost.

Also been initiated to construct a plant for the production of titanium production capacity of 4 million pounds per year. It is expected to complete the deal of US $ 110 million (SR 412.5 million Saudi) in the near future.

This is the deal's strategic importance for Cristal Global, because it makes the integration of production processes is also expected to contribute expertise owned by Cristal in the arrival of ITP stage of commercial production of the pilot plant, which in turn, will maximize revenue from the area of titanium. Titanium powder used for the production of titanium metal which is light weight and high rigidity and also intervened in many advanced industries, including the production of Heat Exchangers and the aircraft industry.