Osaka Titanium to Increase Prices on Aviation Demand
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Osaka Titanium Technologies Co., the world’s second-largest producer, plans to raise contract prices for the first time in three years because of higher costs and a recovery in aviation demand, including in China.
The company is close to settling a “mid-single” digit percentage point increase with most of its overseas customers for calendar 2011, Shozo Nishizawa, president of the Amagasaki-based company, said in an interview. The company produces titanium sponge, a semi-processed material that is refined to make the lightweight and corrosion-resistant metal used in power plants and by aircraft makers such as Boeing Co.