China's leading titanium producer Baoji Titanium Industrial Co. Ltd. has signed a three-year contract worth more than one billion yuan (US$130 million) with the US-based Boeing, the Chinese company said Saturday.
Under the contract, Baoji Titanium, based in Shaanxi Province, will provide about 4,300 tons of titanium products for the world's major civil aircraft producer Boeing from 2007 to 2009, with this year's order reaching 780 tons.
"This contract will have a positive effect on our business performance," said Baoji Titanium in its statement.
Established in 1999, the Baoji Titanium Industrial Co Ltd boasts the country's largest manufacturing and research and development center of titanium and titanium alloys. Its registered capital comes to 200 million yuan, with the Baoji Nonferrous Metal Works as its biggest shareholder.
The Baoji Titanium rose 1.54 percent to close at 39.61 yuan on the Shanghai stock exchange on Friday.
(Xinhua News Agency June 9, 2007)
