PTC Industries rose 2.06% to Rs 2,791.10 after announcing that its wholly owned subsidiary, Aerolloy Technologies, had signed a memorandum of understanding (MOU) with Dassault Aviation for the supply of titanium cast parts and material. Dassault Aviation is a French aerospace company that creates military aircraft, business jets, and space technologies. As part of the agreement, the two companies will look into the possibility of Dassault Aviation purchasing Titanium and Super Alloy material, components, and castings from Aerolloy Technologies for Aerospace applications.
According to the company, these titanium castings and components will be used for Rafale multirole fighters and other Dassault aircraft. “With the technologies and capabilities that Aerolloy is developing for the manufacture of aerospace materials, components, and sub-systems, this partnership is significant,” said Sachin Agarwal, chairman and managing director of PTC Industries. This is a significant step towards achieving parity and developing a strong defence and aerospace manufacturing ecosystem in India. PTC Industries is a global leader in the production of high precision metal components for critical and supercritical operations in a variety of industries, including aerospace, defence, and industrial.