Aerolloy Technologies Ltd acquires Hot Rolling Mill

Aerolloy Technologies Limited (a wholly owned subsidiary of PTC Industries Limited, herein referred to as "ATL"), a manufacturer of strategic and critical materials and high integrity metal components, for various critical and super-critical applications in Aerospace and Defence, today announced the acquisition of a Hot Rolling Mill for manufacturing Plates and Sheets in Titanium Alloys for Aerospace and Defence applications.

This advanced capability being acquired from USA represents a significant milestone for the company. This will be a further value addition of Titanium Alloy ingots and billets that will be produced by ATL's upcoming Strategic Materials Technology Complex in Lucknow node of the UP Defence Industrial Corridor (UPDIC). With this Hot Rolling Mill acquistion the company will have a fully Vertically Integrated capability which covers the entire Titanium alloy products Value Chain, with company's offering covering Titanium Alloy Ingots, Billets, Bars, Rods, Castings and now Plates and Sheets also. This would be a very unique capability in the world where this value chain, at global capacity levels, is covered at a single site. make help it expands its profitability and margins.

Hot Rolling technology to manufacture Titanium plates and sheets is scarce capability in the world. This manufacturing capability will enable the production of thinner titanium sheets as well, which are integral to defence and aerospace applications such as aircraft wings and marine engineering for corrosionresistant ship components, etc.

Commenting on this development Mr. Sachin Agarwal, Chairman & Managing Director, PTC Industries said: "We are proud to announce the acquisition of a cutting-edge Hot Rolling Mill for the production of Titanium Alloy plates and sheets, aimed at Aerospace and Defence applications. This strategic move, which involves creation of capability and capacity in India, marks a significant leap in our commitment to the 'Make in India' initiative. This acquisition fortifies our capabilities in manufacturing critical and strategic materials and components and also propels us towards achieving Parity, while further expanding and securing its margins".

Shares of PTC Industries Ltd was last trading in BSE at Rs. 13220.40 as compared to the previous close of Rs. 13046.95. The total number of shares traded during the day was 1196 in over 182 trades.

The stock hit an intraday high of Rs. 13650.00 and intraday low of 13121.05. The net turnover during the day was Rs. 15871559.00.

Source : Equity Bulls

Keywords

PTCIndustries INE596F01018 AerolloyTechnologies Acquisition HotRollingMill