Norsk Titanium (OTCQX:NORSF), a leader in additive manufacturing of aerospace-grade structural titanium components using its Rapid Plasma Deposition technology, announced that it has secured a production order for an undisclosed prime contractor for the United States Department of Defense.
The company said the contract award builds on years and development and qualification efforts with various Department of Defense prime contractors.
Norsk Titanium (OTCQX:NORSF) is actively working on projects with defense contractors for recurring production parts and with commercial aerospace clients.
The company anticipates transitioning more parts into serial production later this year.
Nicholas Mayer, Norsk Titanium vice president commercial, hailed the contract win as a key milestone in the company’s growth strategy.
“Our revenue plans for 2024 and the years to come are dependent on us penetrating the defense market as well as the commercial aerospace market,” Mayer said.
“This effort secures initial serial production revenue and we expect to see increasing sales as our customer is awarded production contracts from the United States Department of Defense.”