Norsk Titanium (OTCQX:NORSF) has inked a new supply agreement with Dutch partner Hittech Group for the semiconductor market.
Under a two-year supply deal, Hittech Bihca BV will source silicon wafer carrier trays from Norsk Titanium (OTCQX:NORSF) for end customer ASML's semiconductor chipmaking equipment.
Norsk Titanium (OTCQX:NORSF)'s Plattsburgh New York facility will drive production, leveraging its industrial scale capabilities to streamline manufacturing processes, reducing machining requirements and enhancing cost-efficiency and delivery timelines for ASML.
The move marks Norsk Titanium's strategic expansion beyond its core commercial aerospace titanium market, following recent qualification and production successes in that sector.
“This is the result of many months of demonstrating to our customers that we can provide our products on an industrial scale while delivering the promised value,” said Nicholas Mayer, Norsk Titanium’s vice president commercial.
“Norsk Titanium plans to continue our expansion into this market as forecasted.”
The partnership also entails a cost-reduction initiative, aimed at delivering added value as production volume escalates over time.
Norsk Titanium is a global leader in metal 3D printing through value-added metal parts using its Rapid Plasma Deposition (RPD) technology and 700 MT production capacity, offering reduced raw material usage, energy consumption, and lead times compared to traditional forming methods.