Oct 17 2008
Cristal Global’s wholly owned subsidiary, Cristal US, Incorporated (Cristal US) announced today that it has completed the acquisition of International Titanium Powder, LLC (ITP), a private Illinois-based limited liability company specializing in the production of high-purity titanium and titanium alloy powders.
ITP was established in 1997 to commercialize the Armstrong Process, a proprietary, patented process for the low-cost production of high-purity titanium and titanium alloy powders. ITP operates a Research and Development facility and a pilot plant in Lockport, Illinois. ITP has broken ground on a four million pound per year production facility in Ottawa, Illinois.
Robert Daniels, Vice President – Titanium Metals for Cristal US, will lead the ITP business. Daniels said, “Now that we have completed the acquisition of ITP, Cristal Global will leverage its position from titanium feedstock through to titanium metal, titanium dioxide and various other intermediates and specialty titanium-based products. The ITP team will be expanded and supported by Cristal Global to bring the first low-cost titanium powder plant based on the Armstrong process into production at Ottawa, Illinois within 18 months. Titanium and titanium alloy powders from the Armstrong process have been proven to have properties that will provide the foundation for an expanding powder-based titanium product market. We look forward to working with our suppliers, customers and titanium metal consumers in programs to accelerate use in existing and new markets. Titanium alloy powders will offer an opportunity for downstream industries to use titanium in ever broadening applications which ITP will be ready to serve.”
ITP former CEO Stan Borys will continue as a consultant for ITP for a period of time. Borys said, “We are extremely pleased that this transaction creates an entity ideally suited to accelerate realization of the commercial benefits enabled by powder manufacturing technology and the ability to create novel high-performance alloys.”