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Norsk Titanium Announces Strategic Supply Chain Partnership with Precision Holdings

Collaboration deal signals launch of Norsk’s integrated supply chain network to support worldwide Rapid Plasma Deposition™ production

OSLO, NORWAY — April 5, 2016 — Norsk Titanium AS, the world’s leading provider of aerospace-grade, additive manufacturing technology today announced a long-term supply chain services agreement with Precision Holdings, a portfolio company of Texas-based private equity firm Insight Equity Holdings LLC. The deal comes ahead of Norsk Titanium’s scheduled groundbreaking of the world’s first industrial-scale additive manufacturing facility to be located in the United States.

Under the terms of the partnership, Precision Holdings will also provide strategic support in the form of customer development services in the United States in accordance with Norsk Titanium’s global expansion plans.

“We are delighted to announce this broad cooperation with Precision Holdings,” said Warren M. Boley, Jr., CEO of Norsk Titanium. “As we drive our RPD™ technology across new markets and customer applications, Precision Holdings is an ideal downstream operations partner and collaborator in our newly-launched integrated supply chain network.”

“We are very excited about our commercial agreement with Norsk Titanium,” said Victor Vescovo, Chairman of Precision Holdings. “As industry veterans in metal additive manufacturing and high-precision machining, we see enormous potential for Norsk’s Rapid Plasma Deposition™ technology not just in titanium and aircraft parts, but throughout a broader spectrum of other materials and industries in the future.”

About Norsk Titanium AS

Norsk Titanium is a global leader in metal 3D printing, innovating the future of metal manufacturing by enabling a paradigm shift to a clean and sustainable manufacturing process. With its proprietary Rapid Plasma Deposition® (RPD®) technology and 700 MT of production capacity, Norsk Titanium offers cost-efficient 3D printing of value-added metal parts to a large addressable market. RPD® technology uses significantly less raw material, energy, and time than traditional energy-intensive forming methods, presenting customers with an opportunity to better manage input costs, logistics, and environmental impact. RPD® printed parts are already flying on commercial aircraft, and Norsk Titanium has gained significant traction with large defense and industrial customers

About Precision Holdings

Windsor, Connecticut-based Precision Holdings is a leader in precision contract machining, fabrication, assembly, and 3D metal printing services for the aerospace, defense, power generation, and oil and gas industries. Precision Holdings has more than 300,000 square feet of manufacturing space with the capacity to produce a full range of components from large industrial gas turbines to small, highly complex additive manufactured parts. The company operations include more than 100 state-of-the-art, multi-axis CNC machines; 3D printers; and CMMs handling volumes ranging from prototyping to full-scale production.