MONTREAL, Québec (FSCwire) - Argex Titanium Inc. (TSX: RGX) (“Argex” or “the Corporation”) is pleased to announce that, following the presentation of Mr. Mazen Alnaimi, Chairman and CEO of the Corporation, at China’s First Summit Forum on the Titanium Industry in December 2017, and the validation of the Argex technology by external labs, there was major interest from industry players to meet with Argex management and develop potential business collaboration.

 

A meeting took place at Argex with the General Secretary of the China National Coatings Industry Association (NCIA), an association which represents 48 TiO₂ manufacturers in China.

 

This meeting confirmed the great interest of the Chinese TiO₂ industry for the Argex technology. Meetings with select major industry players and Argex Management will be arranged with two groups: a group interested in satisfying Chinese demand by licensing the Argex technology and a group interested in developing global TiO₂ production, using the Argex technology which has key advantages in terms of cost and environmental impact.

 

The Chinese authorities have banned the construction of sulfate production of TiO₂ in the country as well as restricted any expansion of existing sulfate plants unless major environmental impact improvements are made, thereby encouraging the chloride process for the production of TiO₂.  

 

The Chinese TiO₂ industry accounts for an estimated total capacity of 3.2 million tonnes and is growing at 6% to 8% annually. This growth is the equivalent of two additional large scale production units every year.

 

“These rapid developments prove that the Argex TiO₂ technology is being developed at the right time in a fast growing sector, in need for lower cost and environmentally-friendly technologies”, said Mazen Alnaimi, Chairman and CEO of Argex.

 

About Argex Titanium

 

Argex Titanium Inc. has developed an advanced chemical process for the volume production of high-grade titanium dioxide (TiO₂) for use in high-quality paint, plastics, cosmetics and other TiO₂ applications. The Corporation’s unique proprietary process uses relatively inexpensive and plentiful source material from a variety of potential vendors to produce TiO₂, along with other valuable by-products. Argex’s process provides a significant cost and environmental advantage over current legacy TiO₂ production methods.

 

Contact:

Mazen Alnaimi

Chairman and Chief Executive Officer | Argex Titanium Inc.

info@argex.ca

To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/ArgexJan82018_0.pdf

Source: Argex Titanium Inc. (TSX:RGX, OTC Pink:ARGEF, FWB:ASV)

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