Argex Titanium TiO2 technology of interest to China National Coatings Industry Association
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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