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PTC Industries' stock soars 10% on strategic titanium parts pact with Dassault Aviation
Industry News- Jan 18,24
The purchase agreement solidifies a commitment from Aerolloy to manufacture a comprehensive range of titanium castings for the Rafale multirole fighter aircraft and the Falcon business jet program, starting from the year 2024.
PTC Industries (PTC) saw a robust 10% surge in its stock, reaching a new peak of Rs 7,663.25 on the BSE. This climb followed the announcement that its subsidiary, Aerolloy Technologies, had entered into a multi-year agreement with France-based Dassault Aviation to supply titanium cast parts for the Rafale Multirole fighter aircraft.
The purchase agreement solidifies a commitment from Aerolloy to manufacture a comprehensive range of titanium castings for the Rafale multirole fighter aircraft and the Falcon business jet program, starting from the year 2024. The collaborative effort between Aerolloy Technologies and Dassault Aviation underscores the shared dedication to the 'Make in India' and Aatmanirbhar Bharat initiatives, as highlighted by PTC.
Specialising in the manufacturing and supply of titanium and superalloy castings for Aerospace and Defence applications, both domestically and internationally, PTC Industries stands as a leading Indian producer of precision metal components for critical applications. The company perceives a substantial opportunity in the escalating demand for aerospace and defence components in India's domestic market. Emphasising its alignment with the government's focus on self-reliance, PTC expressed confidence that its capabilities in producing high-quality materials and parts can contribute significantly to the country's objective of reducing import dependence.
Source: Business Standard
PTC Industries
Dassault Aviation
Rafale Multirole fighter aircraft
Aerolloy Technologies
Make in India
Aatmanirbhar Bharat
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