Titomic Limited (ASX: TTT) operates as an additive manufacturing specialist. The Company focuses on advanced materials used in a variety of product applications including sports equipment, airplane components, surgical implants, medical devices, and naval vessels. Titomic serves aerospace, automotive, construction, marine, and military industries in Australia, Europe, and the United States.
The company, today on 27 March 2019, has reported that it has executed a Memorandum of Understanding with Japanese companies Osaka Titanium Technologies Co. Ltd.(“OTC”) and Marubeni Corporation (“Marubeni”), to distribute Titomic Kinetic Fusion (“TKF”) systems in Japan and South Korea and supply aerospace-grade gas-atomised titanium metal powders globally.
OTC is one of the world’s largest titanium sponge manufacturers and has a history of more than 60 years. OTC began the mass production of commercially pure titanium powder starting in 1994 by using an Electrode Induction Gas Atomisation process.
Marubeni is a major Japanese integrated trading and investment business conglomerate that handles products and provides services in a broad range of sectors including food, consumer products, chemical & forest products, energy & metals, power & plants projects, and transportation & industrial machinery.
The strategic fit with OTC and Marubeni Titomic has tested OTC’s aerospace-grade Titanium powder as being suitable for use in TKF systems. The MoU with OTC and Marubeni has several strategic advantages to further improve the company’s positioning and progress. To explain this, the company is now ready to leverage off Marubeni’s extensive global customer network into energy, metals, power generation, shipping, heavy industries and automotive markets to distribute TKF systems for revenue opportunities. With this, the company will secure the supply of aerospace-grade gas atomised spherical powder from well-established market leading Titanium producer, OTC. Titomic and OTC are slated to develop new Titanium powder manufacturing technologies for TKF systems to enable new commercial opportunities through the supply of large volumes of Titanium powder for automotive and heavy industries.
These elements combine to give the company an expanded global network for TKF System distribution and production run demand.
Titomic Managing Director, Mr. Jeff Lang has commented that the company’s partnership with OTC and Marubeni secures supply of the highest-quality aerospace-grade Titanium powder, from a reputable global corporation, aligning with the company’s development strategies in Aerospace and Defence. This partnership will enable the development of new Titanium powder technologies which, when combined with Titomic’s TKF automated production systems, drives new revenue opportunities through high volume production of titanium parts for automotive and heavy industries.
On the price-performance front, the stock has posted the year till date return of -14.22%. The company also has posted returns of 24.37% & -7.01% & over the past six & three months respectively. At the time of writing, i.e., on 27th of March 2019 AEST 4:00 PM, the stock of the company was trading at a price of A$ 2.080, up by 4.523% during the day’s trade with a market capitalisation of ~A$ 244.97 Mn. The stock opened the day at A$ 2.000 reached the intraday high of $ 2.090 and touched an intraday low of $ 2.000, with daily volume of ~ 210,706. It had a 52-week high price of $ 3.120 and a 52 weeks low price of $ 1.195, with an average volume of, 104,238 approximately.
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