PTC Industries Limited (herein referred to as "PTC"), a manufacturer of high-quality engineering metal components for various critical and super-critical applications, today announced the strategic acquisition of Vacuum Arc Remelter (VAR) for manufacturing Titanium ingots under its wholly owned subsidiary "Aerolloy Technologies Limited (ATL)". This facility is to be set-up in the 50 acres land allotted to ATL in the Lucknow node of the UP Defence Industrial Corridor (with reference to press release on 17th January 2022).
This procurement of Vacuum Arc Remelter is a key milestone towards company's endeavour to bring the best-in-class technologies in India and of setting-up a fully integrated material manufacturing capabilities of all exotic materials, including Titanium ingots and recycling facility, Cobalt, and Nickle Superalloys, in three phases at this facility. The Company has already initiated the capex in the first phase which is underway and has acquired and set-up the Vacuum Arc Remelter facility which is critical for manufacturing of Titanium Ingots from Sponge (ore) with a total capacity 1,500 tonnes per annum.
Moving ahead in the first phase, PTC will continue investing in setting up more such strategic and critical material facilities along with the acquisition of Titanium Melting & Recycling Furnaces & Plants in the coming months. The global Titanium industry is facing supply chain disruptions amidst macro-economic developments like the Russia-Ukraine conflict. With the changing market dynamics and impact of recent macro-economic developments, there may be a structural shift in the global titanium supplychain. Titanium being a critical element for aerospace and defence manufacturing, its demand is likely to remain persistent.
Speaking on this major accomplishment, Mr. Sachin Agarwal, Chairman & Managing Director, said: "We are elated to announce that we have successfully acquired the Vacuum Arc Remelter to manufacture Titanium Ingots. The Current acquisition will give PTC capabilities and platform to stand with titanium manufacturers across the globe. This acquisition is a steppingstone towards establishing unmatched capabilities and platform for next leg of growth for PTC Industries. We at PTC have built strong roots over the years and are confident to nurture the growth of the Company and simultaneously strengthen India's Defence and Aerospace capability."
Shares of PTC Industries Ltd was last trading in BSE at Rs. 1866.55 as compared to the previous close of Rs. 1843.60. The total number of shares traded during the day was 2130 in over 306 trades.
The stock hit an intraday high of Rs. 1880.00 and intraday low of 1780.05. The net turnover during the day was Rs. 3934092.00.