Kind of a discouraging comment, the kind of thing I would have expected 7 months ago, but not now. They make it sould like Argex still does not have a viable product that satisfies them and continues to putter around in the lab with no end in sight. It certainly does not sound as if any kind of firm agreement on supply (or anything) is imminent. If anything, at the end he leaves the impression that an agreement specifically with Argex is not that important in than if Argex succeeds in selling TiO2 anywhere then the additional supply into the world market will drive down prices and PPG can simply benefit from that. Ho hum.
In fairness this is a senior finance guy and it's uncertain if he's up to date with what's happening.