Norsk Titanium Announces Strategic Supply Chain Partnership with Precision Holdings
Collaboration deal signals launch of Norsk’s integrated supply chain network to support worldwide Rapid Plasma Deposition™ production
OSLO, NORWAY — April 5, 2016 — Norsk Titanium AS, the world’s leading provider of aerospace-grade, additive manufacturing technology today announced a long-term supply chain services agreement with Precision Holdings, a portfolio company of Texas-based private equity firm Insight Equity Holdings LLC. The deal comes ahead of Norsk Titanium’s scheduled groundbreaking of the world’s first industrial-scale additive manufacturing facility to be located in the United States.
Under the terms of the partnership, Precision Holdings will also provide strategic support in the form of customer development services in the United States in accordance with Norsk Titanium’s global expansion plans.
“We are delighted to announce this broad cooperation with Precision Holdings,” said Warren M. Boley, Jr., CEO of Norsk Titanium. “As we drive our RPD™ technology across new markets and customer applications, Precision Holdings is an ideal downstream operations partner and collaborator in our newly-launched integrated supply chain network.”
“We are very excited about our commercial agreement with Norsk Titanium,” said Victor Vescovo, Chairman of Precision Holdings. “As industry veterans in metal additive manufacturing and high-precision machining, we see enormous potential for Norsk’s Rapid Plasma Deposition™ technology not just in titanium and aircraft parts, but throughout a broader spectrum of other materials and industries in the future.”