Tekna Bags $200M Titanium Order
Tekna Holding ASA, headquartered in Sherbrooke, Quebec, Canada, announced that it has received three orders for titanium powder for metal injection molding (MIM) with a total value of US$3.7 million. The orders are scheduled for delivery in 2025 and 2026.
"These sales have historically been a strong contributor to our cash flow, and it is gratifying that this material now has multiple customers, which indicates increased demand and the potential for improved margins," said Luc Dionne, CEO of Tekna.
It is reported that all three customers are Tier 1 component manufacturers in China, and plan to use titanium powder to mass produce electronic parts such as electronic watch cases, hinges, buttons, etc.
Rémy Pontone, Vice President of Sales and Marketing, added:
"These orders involve materials composed of smaller particles in our existing powder production, some of which are in our inventory and some from ongoing production.
This plays a key role in our strategy to maximize Tekna's overall production sales. Through cooperation with customers, we have successfully obtained the certification of this smaller size powder material for MIM, thereby improving resource efficiency, increasing sales revenue, and significantly expanding our market share in the consumer electronics components industry."
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