Toho Titanium to Expand Titanium Supply to 50,000 tonnes in F2015

Toho Titanium announced on Friday the firm will increase the titanium supply to around 50,000 tonnes in fiscal 2015 ending March 2016 compared with current 16,000 tonnes. The firm targets 28 billion yen of recurring profit with 100 billion yen of sales in fiscal 2015, which is more than double of fiscal 2007. The firm targets 85 billion yen of sales and 20 billion yen of recurring profit for fiscal 2012, which is 1.9 times for sales and 1.5 times for profit compared with fiscal 2007. The firm also targets more than 15% of recurring profit both on gross capital and sales. The firm has 16,000 tonnes of annual output capacity for sponge titanium at Chigasaki plant in Kanagawa. The firm has annual 9,000 tonnes of titanium ingot output capacity at Chigasaki and Hitachi, Ibaraki. The firm’s titanium supply is around 16,000 tonnes including sponge and ingot. The firm starts commercial operation of new sponge titanium plant with 12,000 tonnes of annual output capacity in Kitakyushu, Fukuoka in December 2009. The total sponge output capacity of 28,000 tonnes will increase to 40,000 tonnes in fiscal 2012 after Kitakyushu plant expansion and to 46,000 tonnes in fiscal 2015 after Chigasaki plant expansion. The firm started the electron beam furnace with 10,000 tones of annual output capacity at Kitakyushu in April 2008 totaling 19,000 tonnes of ingot output capacity. The total capacity will increase to 29,000 tonnes in fiscal 2012 after expansion of Kitakyushu. The firm expects the total titanium supply will increase to around 51,000 tonnes in fiscal 2015 when the firm increases the scrap consumption to annual 4,000-5,000 tonnes.