Nippon Steel Corp. and Titanium Metals Corp. (TIMET) have made a cooperative agreement to market titanium alloy for automotive springs in Japan. Under the agreement, TIMET is to supply Nippon Steel with intermediate stock of "TIMET LCB (low cost beta)", spring alloy of its own development and Nippon to process the stock at the bar and wire mills in its Hikari Works into finished products for sales to Japanese automakers, spring manufactures and parts makers through its sales channels. TIMET will also work to expand titanium alloy applications into non-aerospace fields and Nippon will newly add TIMET LCB Alloy to its line of business.TIMET has a share of 20-25 percent in the world titanium alloy market and Nippon has about 10 percent (in terms of alloy steels, Nippon has a 50 percent share in Japan and 10-20 percent in the global market).
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