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
February 25, 2004
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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 February 25, 2004 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 it is increasing prices on
all non-contract titanium mill and melted products for new orders.
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 February 25, 2004 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
Matthew O'Leary
Corporate Attorney and Assistant Secretary
Date: February 24, 2004
99.1
PRESS RELEASE
FOR IMMEDIATE RELEASE: CONTACT:
Titanium Metals Corporation Bruce P. Inglis
1999 Broadway, Suite 4300 VP--Finance
Denver, Colorado 80202 & Corporate Controller
(303) 296-5600
TIMET ANNOUNCES PRICE INCREASE
DENVER, COLORADO . . . February 25, 2004 . . . Due to significant increases
in raw material and energy costs and strengthening demand across several key
titanium markets, Titanium Metals Corporation (TIMET) (NYSE: TIE) announced that
it is increasing pricing for titanium mill and melted products by 8-11% starting
immediately.
According to J. Landis Martin, Chairman & CEO of TIMET, "TIMET and other
companies in the titanium industry have experienced significant increases in raw
material costs over the last few months, principally in titanium feedstocks
(titanium sponge and scrap). We believe this is due mainly to increased
competition for those same feedstocks from the global ferro-titanium industry,
combined with current low levels of titanium scrap generation and somewhat
higher demand for titanium products."
Martin continued, "To date, TIMET has absorbed the brunt of these increased
costs, while working with our customers to mitigate the impact through supply
chain and technology innovation. Unfortunately, we must pass along a portion of
these costs to achieve sustained profitability and be in a position to reinvest
in our business in support of key customers and markets. Further cost
escalations similar to those experienced recently could necessitate additional
pricing actions in the near future."
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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