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Titanium Metals Corporation is starting out the new year by considering several cost-saving measures in light of the downturn in the aerospace industry, said Mark Wallace, Timet's chief financial officer.
For the world's largest maker of titanium mill products and one of Henderson's largest employers, such measures under consideration include adjusting amounts of raw materials to reflect demand, asking its suppliers and service providers for price reductions, and, Wallace said, the company is studying the feasibility of consolidating facilities in the U.S. and abroad.
In November, Timet laid off about 50 workers between its Henderson and Morgantown, Pa., facilities in response to Boeing Co.'s announcement it would cut as many as 30,000 commercial jet workers by year-end 2002.
Additional layoffs may also be imminent, according to Wallace.
"We don't have firm plans to layoff more...