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
July 3, 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 July 3, 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 that applauds a decision by the
President of the United States to retain titanium sponge tariffs.
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 July 3, 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: July 3, 2003
EXHIBIT 99.1
PRESS RELEASE
FOR IMMEDIATE RELEASE: CONTACT:
Titanium Metals Corporation Robert E. Musgraves
1999 Broadway, Suite 4300 Chief Operating Officer (N. Am.)
Denver, Colorado 80202 (303) 296-5600
TIMET APPLAUDS DECISION TO RETAIN TITANIUM SPONGE TARIFFS
DENVER, COLORADO . . . July 3, 2003 . . . Titanium Metals Corporation
(NYSE: TIE) announced that on July 1, 2003, the President of the United States
denied a petition filed by the Government of Kazakhstan that would have allowed
titanium sponge to be imported duty free into the United States from Kazakhstan
and Russia. TIMET's Henderson, Nevada sponge operations represent the last
remaining titanium sponge production of any size in the United States. As a
result, the normal 15% tariff will continue to apply to all imports of titanium
sponge into the U.S.
J. Landis Martin, TIMET's Chairman, President and Chief Executive Officer,
said, "We are very pleased with the President's decision to retain duties on
titanium sponge, as the elimination of those duties would have made it even more
difficult for TIMET to compete effectively in the currently depressed market for
titanium products." In addition, according to Martin, "TIMET believes the
President's decision reflects a recognition by the country's leadership of the
importance of preserving a viable domestic source of titanium sponge in the
United States as a critical part of our national defense infrastructure." Martin
concluded, "We express our gratitude for the support we received on this issue
from a broad, bipartisan group of Members of Congress who shared this view
regarding the need to maintain our domestic capability to produce titanium
sponge."
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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