Argex Titanium Inc. is pleased to announce it has signed a binding memorandum of understanding (MOU) with Valleyfield Enterprises for a long-term lease of at least 235,000 square feet of existing building space located at 1300 Gérard-Cadieux Blvd in Salaberry-de-Valleyfield (“Valleyfield”) in Quebec, Canada. This location will house the company’s first industrial scale titanium dioxide (TiO2) production facility. The MOU and long-term lease are conditional upon certain conditions being met or waived by Argex.
Located in the Perron Industrial and Harbour Front Park, the site can accommodate additional TiO2 production modules and offers significant expansion potential. This location will enable Argex to save time and avoid the large capital expenditures associated with greenfield plant construction and benefit from the existing industrial infrastructure already in place at the site.