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Titomic Limited joins hand with Chinese company Sino-Euro Materials Technologies of XiâAn Co. Ltd for supply and distribution services.
The report read that Titomic Limited and Sino-Euro Materials have signed Memorandum of Understanding (MoU) with immediate effect. It will see the Chinese producer supplying metal powders exclusively to Titomic for the development of Titomic Kinetic Fusion⢠systems. The deal also includes the distribution and customer support services from Sino-Euro for the sale of Titomic Kinetic Fusion⢠systems in China.
The metal powders that will be supplied by Sino-Euro are characterized as high-quality aerospace grade Titanium powders produced by Sino-Euroâs plasma rotating electrode process (PREP). Titomic stated that it has gone through the proper stage of testing to evaluate the quality and international standards of Sino-Euroâs titanium powder.
Managing Director of Titomic, Mr. Jeff Lang stated that Titomic had selected Sino-Euro for the supply of Aerospace grade PREP titanium powders because of their 50+ years of research and development in material science for titanium and superalloys.
Sino-Euro is positioned as a research leader in high-end materials and powder preparation technologies. The company operates as a subsidiary of the leading research center of China, Northwest Institute for Non-ferrous Metal Research (NIN). Sino-Euro has more than 30 patents granted and is recognized for setting up the industrial production line for Chinaâs first Supreme Speed Plasma Rotating Electrode Process (SS-PREP) ⢠spherical metal powder.
Mr. Lang added this Memorandum of Understanding would lead to Sino-Euroâs appointment as the sales distributor for Titomicâs TKF system and the customer support partner of Titomic in China by early 2019.
Titomic being an additive producer of large and complex metal parts eyes a strong market for its Titomic Kinetic fusion systems in China. It has been observed that in China metals like titanium alloys are mostly consumed by power, aerospace, desalination and automotive industries. In the aerospace industry, Boeing alone expects that with the escalating growth in air passengers, Chinaâs demand for aircraft will account for 18% of the worldâs commercial airplane fleet by 2037.
Despite spreading its footprints in China market, Titomic Limited (ASX:TTT) has been led by the negative market sentiments in todayâs trade. The stock price has fallen 0.948% or $0.020 to last trade at $2.090 as at 21 December 2018. But looking to the past performance of Titomicâs stock, we can see a leap of 122.11% over the past one year including the surge of 11.05% in the last one month.
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