Published:
TIMET Reaches Labor Accord in Toronto, Ohio
DALLAS, May 5 /PRNewswire-FirstCall/ -- Titanium Metals Corporation
(TIMET) (NYSE: TIE) announced that the hourly production and maintenance
workforce and the hourly clerical and technical workforce at its titanium mill
products facility inToronto, Ohio ratified a new, three-year labor agreement
terminating July 1, 2011. The new agreement provides for wage and benefit
increases, including certain changes to the incentive compensation program,
and retains the existing limitation on participation in post retirement
benefits (OPEB) and defined benefit plans.
The statements in this release relating to matters that are not historical
facts are forward-looking statements that represent management's beliefs and
assumptions based on currently available information. Forward-looking
statements can be identified by the use of words such as "believes,"
"intends," "may," "will," "should," "could," "anticipates," "expects,"
"estimates" or comparable terminology or by discussions of strategy or trends.
Although TIMET believes that the expectations reflected in such
forward-looking statements are reasonable, it cannot give any assurances that
these expectations will prove to be correct. Such statements by their nature
involve risks and uncertainties, including, but not limited to, the
cyclicality of the titanium metals and commercial aerospace industries, global
economic and political conditions, changes in global productive capacity, the
performance of TIMET, its customers and suppliers under long-term agreements,
changes in customer inventory levels, changes in product pricing and costs,
changes in foreign currency exchange rates, availability of raw materials,
competitive products, strategies and technologies, operating interruptions
(including, but not limited to, labor disputes, fires, explosions, unscheduled
downtime, transportation interruptions, war and terrorist activities), the
outcome of litigation and other risks and uncertainties detailed in the
TIMET's Securities and Exchange Commission filings. Should one or more of
these risks materialize (or the consequences of such a development worsen), or
should the underlying assumptions prove incorrect, actual results could differ
materially from those forecasted or expected. TIMET disclaims any intention or
obligation to update publicly or revise such statements, whether as a result
of new information, future events or otherwise.
TIMET, headquartered inDallas, Texas, is a leading worldwide producer of
titanium metal products. Information on TIMET is available on its website at
http://www.timet.com.
SOURCE Titanium Metals Corporation
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