US-based Western Metal Material Co. Ltd intends to complete its full acquisition of Xi’an-based Western Titanium Co. Ltd by the end of June 2009. According to Western Metal Material’s previous announcement, the company obtained approval from the China Securities Regulatory Commission in December 2008 to issue between 15 million and 25 million new shares in order to raise a maximum of USD 80.46 million. The funds would help finance the acquisition of a controlling 97.78% stake in Western Titanium as well as a 5000tn titanium processing line technical upgrade project at Western Titanium, which requires investment of USD 73.69 million. In addition, the company also pledged to buy the remaining 2.22% stake in Western Titanium with its own funds. Western Titanium currently has an annual capacity of 3000tns of titanium ingot and 2000tns of titanium products.