MONTREAL, June 27, 2013 /CNW Telbec/ - Argex Titanium Inc. (TSXV: RGX) announced today that it has entered into a long-term supply agreement
with PPG Industries Inc. (NYSE: PPG) relating to titanium dioxide (TiO2) pigment suitable for various end-use applications by PPG.
PPG is the world's leading coatings and specialty products company,
serving customers in construction, consumer products, industrial and
transportation markets and aftermarkets. PPG operates in nearly 70
countries around the world, with sales in 2012 of US$15.2 billion.
The supply agreement and a concurrently executed research services
agreement between PPG and Argex, whereby PPG will provide continued
research and development support to both optimize Argex pigment grade
TiO2 for paints and coatings and combine PPG's coatings technology and
expertise with Argex's TiO2 proprietary processing technology, replace
the collaboration agreement signed by the two parties that was
announced in April, 2012.
Roy Bonnell, Argex President and Chief Executive Officer, said, "The
agreements with PPG are a significant milestone for our Company. Our
relationship with PPG has greatly assisted with our stated goal to move
towards production. We are very pleased that PPG will be our first
customer for TiO2 pigment suitable for use in its architectural paint production. We are
also pleased that we will continue our collaboration with PPG to
optimize our product for other various end-use applications."
"These agreements and our ongoing collaboration with Argex are
demonstrative of PPG's stated intent to leverage our expertise to
secure an enhanced supply of critical raw materials," said Charles F.
Kahle II, PPG Chief Technology Officer and Vice President, Research and
PPG previously manufactured titanium dioxide using the chloride process
at its former Natrium, W.Va., chemicals plant and sold titanium dioxide
pigment for coatings and other end-use applications. Titanium dioxide
is a raw material widely used in the paint and coatings industry as
pigment for its hiding, durability and whiteness characteristics.
About Argex Titanium Inc.
ARGEX Titanium Inc. is a near-term producer of Titanium Dioxide (TiO2). With a primary goal of advancing rapidly towards production, Argex
has adopted a simple and low-risk strategy for the scale-up of its
proprietary process that allows it to produce high quality TiO2 pigment directly from run-of-mine material from a variety of sources.
The closed-loop process is environmentally friendly and produces
minimal inert tailings.
The feasibility study for the process is nearing completion.
The Argex R&D Centre and its first industrial sized production module
will be situated in Salaberry-de-Valleyfield, Quebec. The company
expects its industrial plant to be operational in early 2015. The
location of the site can be viewed at Argex Valleyfield.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Argex Titanium Inc.
For further information:
Roy Bonnell, President and Chief Executive Officer
Argex Titanium Inc.
Argex Titanium Inc.
The Howard Group
Sarah Moreau, Consultant, Financial & Regulatory Affairs
514 395-0375, ext.234