Timet history

1952 TIMET produces world's first titanium ingots.

The Department of Defense provided a range of incentives to develop the metal, and by 1953 the annual production of titanium reached two million pounds .

The Japanese expanded their 1955 output, exporting most of their estimated 500 tons of sponge to the United States--double the amount from the previous year.

The Defense Department had set an annual production goal of 35,000 tons of titanium by 1956, which was later cut to 22,000 tons.

1957 TIMET develops the consumable-electrode vacuum re-melting furnace.

1960 TIMET develops strip, tub, and other mill products.

1964 TIMET supplies materials for the A-11 program, the precursor to the SR-71 Blackbird.

It was already known that titanium was non-toxic in the human body, but Brånemark saw how closely bone would adhere to titanium and, in 1965, placed the first titanium dental implant into a human volunteer.

Titanium Industries Inc. (T.I.) was founded in 1972 at the forefront of the commercialization and industrialization of titanium and its alloys.

The OPEC oil crisis of 1973 was a contributing factor in the mass uptake of Titanium in the industry.

1983 TIMET (IMI) developed alloys taking the temperature capability of titanium to 600°c (1100°f) - alloys TIMETAL® 829 and 834.

By 1985, after 30 years in partnership, Allegheny International, Inc. and NL Industries sold most of their titanium unit to an investors' group.

In 1988, Titanium Industries was purchased by an engineering company whose primary business activities were supporting the industrial pulp and paper market.

TIMET's president and CEO, Kirby C. Adams, who served since 1989, was replaced by J. Landis Martin, chairman and president of Tremont Corp.

In 1990, Baroid Corporation, an oil-field services company controlled by Dallas billionaire Harold Simmons, purchased the remaining Allegheny interest in Titanium Metals for $50 million, giving it 100 percent ownership of the company.

A third-quarter $2.2 million TIMET operating loss, following an $8.5 million loss in the first nine months of 1992 was reported by Tremont Corp., TIMET's parent company.

1993 TIMET introduces the "Jumbo" slab.

In 1994, as demand steadily increased, Jim Paddock identified a market opportunity for short lead-time, break bulk distribution of titanium mill products and purchased the company in partnership with an Oregon based metals company.

Europene du Zirconium (Cezus), France's largest producer of titanium, in 1996.

1997 TIMET advances architechtural market with Guggenheim Museum.

The facility replaces the previous $105 million secured facility with Congress Financial Corporation--not scheduled to terminate until the end of 1998.

Five years later, in 1999, a leading US public titanium mill producer purchased the Oregon based Metals company, becoming a partner with Jim.

The partnership lasted until 2001 when Jim Paddock, now Chairman, and his son, Brett Paddock, CEO acquired the US distribution business from the US titanium mill and T.I. became a privately held and operated multi-site North American distribution company.

Still, it remained the metal of choice in the military for its unique characteristics, and for the next few decades with would still be considered an “aerospace metal.” In fact, by 2006, 73% of titanium metal in the United States was still used for aerospace construction .

2009 TIMET commissions two additional VAR furnaces.

In 2017 and in recognition for his vision in establishing a global titanium distribution model, the International Titanium Association honored Jim Paddock with a Lifetime Achievement Award.

Some reports expect the titanium industry to grow by 4 to 5% by 2018.