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
October 6, 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 October 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 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 October 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: October 6, 2003
EXHIBIT 99.1
PRESS RELEASE
FOR IMMEDIATE RELEASE: CONTACT:
Titanium Metals Corporation Bruce P. Inglis
1999 Broadway, Suite 4300 Vice President--Finance and
Denver, Colorado 80202 Corporate Controller
(303) 291-2996
TIMET ANNOUNCES PRICE INCREASE
DENVER, COLORADO. . .October 3, 2003. . . . Titanium Metals Corporation
("TIMET") (NYSE: TIE) announced today that it is increasing prices by 6% on all
non-contract titanium mill and melted products effective immediately for new
orders. The increase reflects rising raw material costs, particularly for scrap
and master alloys, plus sustained increases in energy costs.
According to J. Landis Martin, Chairman and Chief Executive Officer of TIMET,
"The titanium industry has been in a prolonged downturn since late 2001,
primarily due to softened demand from the commercial aerospace segment and
stagnant growth in the industrial sector because of global economic conditions.
However, we have seen sustained strength across many of our mill and melt
product groups since 2002. We expect this trend to continue in 2004." Martin
continued, "In addition, while TIMET has been successful in achieving targeted
cost reductions to date in 2003, we continue to face pressures from increasing
raw materials and energy costs that require us to increase our prices to keep in
pace with the changing market."
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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