Norsk Titanium partners with Precision Holdings

 

Oslo, Norway – Norsk Titanium AS has entered into 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.

 

Norsk Titanium offers the aviation industry a patented Rapid Plasma Deposition (RPD) process that transforms titanium wire into complex components for structural applications.

 

“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."

 

Windsor, Connecticut-based Precision Holdings offers precision contract machining, fabrication, assembly, and 3D metal printing services for the aerospace, defense, power generation, and oil and gas industries. Precision Holdings has more than 300,000ft² of manufacturing space with the capacity to produce a full range of components from large industrial gas turbines to small, highly complex additive manufactured parts. The company operations include more than 100 state-of-the-art, multi-axis CNC machines; 3D printers; and CMMs handling volumes ranging from prototyping to full-scale production.

 

Source: Norsk Titanium AS