Norsk Titanium Expands into the Industrial Application Market in Collaboration with Hittech Group
Norsk Titanium AS (Norsk Titanium; Euronext: NTI), a global leader in additive manufacturing of aerospace-grade titanium components, announced an expansion of its customer base into the industrial application market sector in collaboration with the Hittech Group, based in Den Haag, Netherlands.
The production of the first industrial component in this development supports a Hittech end customer in the growing semiconductor equipment market. Norsk expects significant near-term investment by manufacturers in the semiconductor market as they seek to modernize their supply chains. This effort represents Norsk’s first step to support these modernization efforts with a faster, more cost efficient and environmentally friendly approach.
Using Norsk’s revolutionary Rapid Plasma Deposition™ (RPD™) process, Norsk engineers have designed a titanium alloy preform that will reduce Hittech’s raw material needs by over 45 percent as compared to legacy wrought product used to fabricate the end component today. Leveraging the RPD™ industrial process enables Norsk to create a near-net-shape design while maintaining the required quality controls and material properties Hittech needs for this critical component. Utilizing nearly the full 90 cm by 60 cm build envelope of Norsk’s proprietary G4B machine, the resulting RPD™ form will weigh nearly 100 kilograms. Delivery of a first test article is expected by year-end with serial production planned to begin in 2022.
“We are delighted to collaborate with Hittech in the transition of the design of this component to RPD™ material,” said Michael Canario, CEO of Norsk. “Hittech has been a strong supporter of our technology, and we are delighted to have reached this phase in our partnership. We look forward to exceeding their affordability targets with a more efficient and cost-effective method of manufacturing titanium.”
“This development marks a significant change in how industrial components will be manufactured with substantial savings in downstream processing time and cost in a sustainable fashion,” added Marco Verloop, Hittech Division Director. “We look forward to investigating how Norsk can further adapt their technology to this application.”
About Norsk Titanium AS
Norsk Titanium AS was founded in 2007 in Norway and has pioneered the use of its patented additive manufacturing process, Rapid Plasma Deposition™ (RPD™). It has been supplying flight qualified structural components since 2017, and today the company operates manufacturing facilities in the State of New York and Norway. The company is distinguished in the aviation industry by its proprietary RPD™ technology that transforms titanium wire into complex components suitable for structural and safety-critical applications. Norsk Titanium is a supplier to commercial aerospace Tier-1 manufacturers and is committed to cost-reducing aerostructures and jet engines for the world’s premier aerospace companies. RPD™ is the world’s first FAA-approved process for manufacturing 3D-printed, structural titanium, delivering substantial lead-time and cost savings for aerospace, defense and commercial customers.
For the latest news, go to www.norsktitanium.com or follow us on Twitter and LinkedIn.
About Hittech Group
Hittech Group is a first-tier system supplier to the high tech industry. Since our incorporation, we have continuously tightened our processes, continuously modernized and automated our production technologies and deepened our knowledge further and further. Machining and material knowledge is at the heart of the Hittech Group but in the meantime, we have developed into a high-tech company with strong development capabilities, extensive technological and mechatronical knowledge and advanced project management. Our strength is our continuous urge for improvement. Through organic growth and targeted acquisitions, we have grown into a well-established company with distinctive expertise, an annual turnover of about 120 million Euros, with 8 companies based in Europe, Asia and around 650 driven professionals. And we have a great ambition for growth. We want to be of increasing value, both in terms of size and expertise, for our customers: professional OEMs in high-tech sectors. https://hittech.com/
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005769/en/
Contact information
Lauren Quesada, Griffin Communications Group
Lauren@griffincg.com;+1 281-744-7938
About Business Wire
Business Wire(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Prosus FAQ's Regarding the Voluntary Share Exchange Offer to the Holders of Naspers N Ordinary Shares30.7.2021 19:00:00 CEST | Press release
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW. PLEASE SEE THE IMPORTANT DISCLAIMERS AT THE END OF THIS ANNOUNCEMENT. Shareholders are referred to the prospectus (Prospectus) published by Prosus N.V. (Prosus) on 12 July 2021 in respect of the voluntary share exchange offer by Prosus to Naspers (JSE:NPN) (LSE:NPSN) N Shareholders (Exchange Offer). Further to the announcement issued by Prosus today, shareholders are advised that since the publication of the Prospectus Prosus has received certain frequently asked questions regarding the Exchange Offer and has therefore made certain materials available today at www.share-exchange-offer.com, where these frequently asked questions have been addressed by Prosus. Cape Town South Africa 30 July 2021 About Naspers Established in 1915, Naspers has transformed itself to become a global consumer internet compan
Prosus FAQ's Regarding the Voluntary Share Exchange Offer to the Holders of Naspers N Ordinary Shares30.7.2021 18:59:00 CEST | Press release
Shareholders are referred to the prospectus (Prospectus) published by Prosus on 12 July 2021 in respect of the voluntary share exchange offer by Prosus to Naspers N Shareholders (Exchange Offer). Since the publication of the Prospectus Prosus has received certain frequently asked questions regarding the Exchange Offer and has therefore made certain materials available today at www.share-exchange-offer.com, where these frequently asked questions have been addressed. About Prosus Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities. The group is focused on building meaningful businesses in the online classifieds, food delivery, payments and fintech, and education technology sectors in markets including India, Russia, and Brazil. Through its ventures team, Prosus invests in
I’mbesideyou Inc. Launched “UNION OF EMOTIONS” Service Using AI to Visualize Cheering Each Other Across National Borders30.7.2021 16:25:00 CEST | Press release
I’mbesideyou Inc. (Setagaya-ku, Tokyo CEO: Shozo Kamiya, hereinafter referred to as I'mbesideyou) launched the "UNION OF EMOTIONS" service on July 23, 2021, the opening day of an international sporting event. This is the first time we have been able to visualize people cheering each other with emotion analysis AI. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210730005404/en/ A visualization of the emotions of cheers flying around the world: Click on each cheer to learn more about that country. (Photo: Business Wire) More than 20,000 cheers have already been sent from more than 79 cities across more than 14 countries around the world, and the sight of the cheers flying across the globe has moved many people on social media. UNION OF EMOTIONS, is the world's first example of people's emotions connecting in real time across countries with the help of AI. It is scheduled to be available until August 8, when the closing ceremon
Palace Bidco Oy (“WSIP Bidco”) Has Received Necessary Regulatory Approval Concerning the Recommended Cash Offer to the Shareholders of Adapteo Plc (“Adapteo”)30.7.2021 14:23:00 CEST | Press release
This announcement is not an offer, whether directly or indirectly, in Australia, Canada, Hong Kong, Japan, New Zealand or South Africa or in any other jurisdiction where such offer pursuant to legislation and regulations in such relevant jurisdiction would be prohibited by applicable law. Shareholders not resident in Sweden or Finland who wish to accept the Offer (as defined below) must make inquiries concerning applicable legislation and possible tax consequences. Shareholders should refer to the offer restrictions included in the section titled “Important information” at the end of this announcement and in the offer document which was published on 23 June 2021. Shareholders in the United States should also refer to the section titled “Special notice to shareholders in the United States” at the end of this announcement and in the offer document. On 17 May 2021, WSIP Bidco, a private limited liability company formed on behalf of, and indirectly wholly owned by, West Street Global Infra
ITRS Group Continues Expansion With the Acquisition Of Opsview30.7.2021 10:00:00 CEST | Press release
ITRS Group, a leading provider of real-time monitoring and analytics software, has acquired 100% of Opsview Limited, a modern, scalable monitoring platform, which provides unified insight into dynamic IT operations on-premises, in the Cloud or hybrid. Opsview will remain and operate as a separate brand and entity. The purchase of Opsview aligns well with ITRS’ strategy to build, buy and partner to deliver smart, automated and predictive end-to-end monitoring solutions for increasingly complex IT estates across industries. This development follows the successful strategic acquisitions of Sumerian, OP5 and Uptrends. Guy Warren, CEO of ITRS commented: “Opsview is trusted by hundreds of businesses, government organisations and service providers globally. This acquisition will enhance our technological innovation, increase our portfolio capability, and provide continued expansion across our global support services.” Mike Walton, CEO and founder of Opsview said: “Partnering with ITRS represe
Taipei Exchange Launches Pioneer Stock Board to Support Innovative Enterprises30.7.2021 10:00:00 CEST | Press release
The Taipei Exchange, TPEx, launched Pioneer Stock Board (PSB) on July 20, 2021, which welcomed its first company on July 26. Pioneer Stock Board marks the evolution of the stock market into an innovation-friendly ecosystem. It aims to facilitate entry to capital markets for more innovative enterprises. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210730005008/en/ Taipei Exchange launches Pioneer Stock Board to support innovative enterprises (Photo: Business Wire) At the PSB Launch Ceremony, Premier Su Tseng-chang delivered the opening speech, emphasizing the government’s support. Su said, “Taiwan’s capital market breaks new ground today, by establishing this board. PSB will support innovative enterprises, a key driver of economic transformation, by providing companies with quick access to capital needed for continued growth.” Dr. Tien-mu Huang, Chairperson of Financial Supervisory Commission, remarked, “Innovation underpin
Schneider Electric Moves Forward With Its Sustainability Impact Targets, Mobilizing Support From Employees, Partners and Customers30.7.2021 08:32:00 CEST | Press release
Schneider Electric, the leader in the digital transformation of energy management and automation, published today its half-year progress overview on setting up and advancing on its 2021-2025 sustainability impact targets. Schneider Electric, named as the world’s most sustainable corporation 2021 by the Corporate Knights Global 100 Index, announced the acceleration of its sustainability strategy in January, aligned to its commitments regarding climate, resources, trust, equal opportunities, generations, and local communities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210729006295/en/ Schneider Sustainability Impact - H1 Results (Graphic: Business Wire) Since then, the Group has successfully launched The Zero Carbon Project, its initiative to halve carbon emissions of its top supply chain partners by 2025, a call to action already joined by 91% of them. By engaging, training, and supporting the sustainable transformation