MONTREAL, Quebec/PISCATAWAY, NJ – Argex Titanium Inc. and Helm U.S. Corp., a wholly owned subsidiary of Germany-based HELM AG, have entered into an exclusive long-term marketing and supply agreement for the distribution of titanium dioxide (TiO2) in the United States and Canada.
Under the agreement, HELM U.S. will exclusively market and distribute 50%, up to 25,000 metric tons per year, of TiO2 produced from Argex’s first industrial-sized plant to be located in Salaberry-de-Valleyfied, Que?bec. The agreement is for a period of seven years, starting when the plant reaches a certain capacity, which is currently expected to take place in the first quarter of 2017.
“This agreement, combined with the supply agreement with PPG Industries Inc., commits a significant quantity of the available capacity of Argex’s first full-scale titanium dioxide production plant,” said Roy Bonnell, President and Chief Executive Officer of Argex Titanium Inc. “This is a significant step for Argex. It demonstrates confidence in the scalability of our technology and in our ability to partner with world-class leaders in the industry.”