Titanium Industries, Inc. Purchases GMT Companies

Titanium Industries, Inc. (TI) and GMT Companies (GMT) are pleased to announce that TI has purchased the GMT companies including GMT Titanium. This will allow TI and GMT to join forces in their efforts to sell titanium and high performance metal products to the European customer base. This purchase joins TI, the world’s largest independent manufacturing distributor of titanium mill products primarily for aerospace and medical markets and GMT, a leading European based distributor of primarily industrial based titanium products.

Titanium Industries, Inc. (TI) and GMT Companies (GMT) are pleased to announce that TI has purchased the GMT companies including GMT Titanium. This will allow TI and GMT to join forces in their efforts to sell titanium and high performance metal products to the European customer base. This purchase joins TI, the world’s largest independent manufacturing distributor of titanium mill products primarily for aerospace and medical markets and GMT, a leading European based distributor of primarily industrial based titanium products.

The two European GMT facilities in Bergen, Norway and Southampton, England will compliment the TI facility in Birmingham, England; as well as 7 other strategically located distribution facilities. The co-existence of these facilities will also provide the additional space required to immediately grow European operations of the two companies, as well as the continued expansion of the non-titanium High Performance Metal, or HPM division, of TI.

Brett Paddock – President and COO of TI said, “GMT’s strong presence in the North Sea and European industrial market and recent success in the alloy bar market will be an impressive addition to TI’s sales and processing capabilities for many types of mill products into major market segments; which include general industrial, biomedical, and aerospace. GMT’s personnel also have considerable expertise in non-titanium products that fits well into the long term product diversification strategy at TI.”

In addition, GMT Titanium’s global sourcing capabilities and innovative marketing strategies are expected to bring new opportunities to the entire Titanium Industries’ distribution network.

Roger Sjomark, GMT’s current Chairman, will take over as Director of European Business Development for Titanium Industries and report to Mr. Paddock. His responsibilities will include strategic European business development and he will work closely with many departments at both companies.

Jan-Hugo Schnelle will continue his responsibilities as Managing Director of both the Norway and UK facilities and he will also oversee Titanium Industries, UK, Ltd division. He will report to Jeff Wise, Vice President, Sales and Marketing for TI.

Mr. Wise added, “The combined synergies of the two companies; including quality products we offer, the markets in which we operate, the customer service oriented and technically sound expertise of our personnel and our common strategy to empower our employees, will allow unprecedented growth opportunities for the combined companies in Europe and the world market. In addition to product diversification and processing capability expansion, some of the immediate opportunities will be to focus on growth into Central and Eastern Europe.”

In business since 1972, Titanium Industries, Inc. is the world’s largest manufacturing distributor of titanium mill products with six distribution facilities in North America, including a recently expanded facility in Montreal, Canada and four international facilities with a fifth to be opened by the end of June in Bangalore, India. TI and GMT hold ISO 9001:2000 and TI holds AS 9100 Rev.B and a variety of airframe, engine, DOD, medical and industrial customer approvals. Titanium Industries also sells other specialty metals through its wholly owned High Performance Metal division.

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