announced recently that construction will soon begin on a $25 million backwards integration project that will create titanium melting operations using electron beam and vacuum arc remelt (VAR) technologies.
To be located in the
Perryman said a number of factors prompted its decision to add additional melting capabilities. A major incentive is to be able to recycle 100% of its scrap. Currently only about 70% of Perryman’s titanium scrap makes it back into the titanium industry while the balance goes to the steel industry. After the expansion, Perryman will be able to utilise all of its own scrap for its melting operations.
The company added that by 2008, a melting capacity shortage is expected to occur in the titanium industry. Perryman said it is positioning itself to support customers through the difficult times ahead. Despite the addition of melting facilities, Perryman does not expect to reduce the amount of titanium it purchases on the open market.
The addition of melting operations composes the first phase in a ten-year long-term expansion plan that will continue to add jobs in
Initially 60 new employees will be needed for the first phase of expansion. In addition, the company anticipates adding 300 new jobs at both locations within the next ten years.