UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 10, 2004
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 jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1999 Broadway, Ste. 4300, Denver, Colorado 80202
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (303) 296-5600
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(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Item 7.01 Regulation FD Disclosure.
The registrant hereby furnishes the information set forth in its press
release issued on September 10, 2004, a copy of which is attached hereto as
Exhibit 99.1 and incorporated herein by reference.
The information, including the exhibit, the registrant furnishes in this
report is not deemed "filed" for purposes of section 18 of the Securities
Exchange Act of 1934, as amended, or otherwise subject to the liabilities of
that section. Registration statements or other documents filed with the
Securities and Exchange Commission shall not incorporate this information by
reference, except as otherwise expressly stated in such filing.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
Item No. Exhibit Index
99.1 Press Release dated September 10, 2004, issued by the
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)
/s/ Matthew O'Leary
Matthew O'Leary
Corporate Attorney and Assistant Secretary
Date: September 10, 2004
INDEX TO EXHIBITS
Exhibit No. Description
99.1 Press Release dated September 10, 2004, issued by the registrant.
EXHIBIT 99.1
PRESS RELEASE
FOR IMMEDIATE RELEASE: CONTACT:
Titanium Metals Corporation Robert E. Musgraves
1999 Broadway, Suite 4300 Chief Operating Officer -
Denver, Colorado 80202 North America
(303) 296-5600
TIMET RESPONDS TO TRADE DECISION
DENVER, COLORADO . . . September 10, 2004 . . . Titanium Metals Corporation
(NYSE:TIE) ("TIMET" or the "Company") is pleased to report that the President of
the United States has approved a petition filed by TIMET to eliminate a special
tariff exemption for titanium wrought products imported into the United States
from Russia under the Generalized System of Preferences ("GSP").
Under the GSP program, the President has the authority to suspend normal
trade tariffs on imports of designated products from certain developing
countries. Normal customs duties on titanium wrought products from Russia have
been suspended since 1998. VSMPO, a Russian titanium producer, has used this
tariff exemption to expand substantially its share of the United States titanium
market, such that VSMPO now accounts for more than 60% of all wrought titanium
imported into the United States.
J. Landis Martin, Chairman and CEO of TIMET, stated, "We are heartened by
the Administration's recognition that VSMPO no longer needs special trade
benefits to compete in the United States. This decision will help to restore
competitive balance in our home market and insure that the United States has a
vibrant domestic titanium industry capable of supplying America's commercial and
military needs for this strategic metal. The President's actions will also keep
jobs at home rather than unnecessarily shipping them to Russia."
Mr. Martin continued, "This would not have been possible without the strong
support the U.S. titanium industry has received in this process from many
Members of Congress on both sides of the aisle, from the Administration and from
our employees. We are grateful for their support."
TIMET, headquartered in Denver, Colorado, is a leading worldwide producer
of titanium metal products. Information on TIMET is available on the Company's
website at http://www.timet.com.
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