Aerolloy Technologies receives New Order from Israel Aerospace Industries

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, has received an order from Israel Aerospace Industries (IAI), for supply of Titanium cast components for Aerospace applications. This is the first time that IAI is sourcing such cast components from India.

Speaking on this development, Mr. Sachin Agarwal, Chairman and Managing Director, PTC Industries said: "Aerolloy Technologies is proud to share that it has received its first order from Israel Aerospace Industries for supply of Titanium castings. This is yet another milestone for ATL and demonstrates the technological capabilities that the company has been building. This is a significant achievement for the company, and we will now be working with one of Israel's leading organisations and a global leader. This new order has opened new opportunities for the company for exports to Israel in the defence and aerospace sectors."

Col.(retd) Zeev Mivtzari, Country Head INDIA & CMD, Israel Aerospace Industries: "IAI sees itself as part of the Defence Ecosystem of India. We have more than 50 local companies that we are working with, and I am very happy to expand the local activity with PTC Industries for manufacturing of strategic materials. This is the way for IAI to expand its business and for India to actualize its SELF RELIANCE policy."

Shares of PTC Industries Ltd was last trading in BSE at Rs. 14148.20 as compared to the previous close of Rs. 14440.15. The total number of shares traded during the day was 214 in over 102 trades.

The stock hit an intraday high of Rs. 14700.00 and intraday low of 14000.00. The net turnover during the day was Rs. 3064022.00.

Source : Equity Bulls

Keywords

PTCIndustries INE596F01018 AerolloyTechnologies OrderWin IsraelAerospaceIndustries