Norsk Titanium (Euronext: NTI, OTCQX: NORSF), a worldwide chief in additive manufacturing for aerospace-grade structural titanium elements utilizing its patented Fast Plasma Deposition (RPD) know-how, has signed contracts with two new prospects within the Industrial and Protection segments, that are anticipated to generate income within the second half of the yr.
Inside the Industrial section, the corporate has obtained a manufacturing order for titanium elements utilized in high-temperature purposes from an undisclosed United States Authorities contractor. These elements will likely be used on specialised tools for the Division of Vitality. Norsk Titanium expects to satisfy the preliminary order this yr and expects recurring follow-on orders for half replacements within the years to return.
Individually, Norsk Titanium has obtained a purchase order order from an undisclosed United States Authorities Division of Protection contractor for the manufacturing of prototype protection articles. The order follows a profitable audit by the contractor of Norsk Titanium’s manufacturing course of website and the Plattsburgh Improvement and Qualification Middle.
“These contracts are the results of our technique and devoted efforts to broaden our buyer portfolio within the Industrial and Protection sectors. These prospects discover the lead instances of conventional casting distributors unacceptably lengthy and acknowledge that our RPD® know-how presents important financial savings by way of time, vitality, and materials,” stated CEO Carl Johnson of Norsk Titanium. “We see sizeable market alternatives in each segments, including to our fundamental market in aerospace,” Johnson added.
Inside the business aerospace business, Norsk Titanium has beforehand entered right into a Grasp Provide Settlement with Airbus and continues to make recurring deliveries. Norsk Titanium additionally continues to ship recurring manufacturing elements for Boeing business plane.
