Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Titomic (TTT) and Repkon, have partnered to establish a hybrid cold spray, flow-forming manufacturing facility to supply barrels to the defence sector
  • The facility will be located in Turkey and will leverage Titomic’s TKF and Repkon’s flow-forming technologies to bring new capabilities to barrel manufacturing
  • Titomic will sell two TKF systems and consumables to the joint venture and the companies will share the profits from barrel sales
  • Titomic MD Herbert Koeck says the “world-first” facility will be an early mover in producing next-generation barrels with tailored features for specific applications and missions
  • TTT shares are 11.9 per cent to trade at 23.5 cents at 1:28 pm AEST

Titomic (TTT) has signed a joint venture agreement with Turkish company, Repkon, to establish the world’s first hybrid cold spray, flow-forming manufacturing facility.

Located in Turkey, the facility will supply barrels to the defence sector by leveraging Titomic’s Titomic Kinetic Fusion (TKF) and Repkon’s flow-forming technologies to bring new capabilities to barrel manufacturing.

These could include reduced lead times, diverse and unique material compositions and capabilities, reduced weight, and improved performance.

To establish the facility, Titomic will sell two TKF systems to the joint venture for around $7.6 million as well as consumables (powder) and the companies will share the profits from barrel sales.

Titomic Managing Director Herbert Koeck said the joint venture has “opened the door to a world-first high volume hybrid cold spray manufacturing facility” which was only possible by bringing the two processes together.

“With its ability to utilise the combination of two innovative processes in barrel manufacturing, the facility will lead the production of next-generation barrels with tailored performance characteristics for specific applications and missions,” Mr Koeck said.

“It opens up a world of many design features for barrel manufacturing which were not previously possible.”

At the end of last year, Repkon became a strategic investor in Titomic through a $2.5 million investment. The joint venture reportedly “further galvanises” the business relationship between the companies.

Repkon CEO Ibrahim Kulekci said having Titomic as a joint venture partner will be “extremely beneficial” in producing and selling barrels Repkon has designed.

“We believe the performance, superior strength-to-weight ratios, enhanced durability and cost advantages these products and manufacturing processes provide offer unique advantages for our barrels and we are keen to explore these opportunities even further over the next months and years,” Mr Kulekci said.

TTT shares were up 11.9 per cent to trade at 23.5 cents at 1:28 pm AEST.

TTT by the numbers
More From The Market Herald
Cavalier Resources (ASX:CVR) - Executive Technical Director, Daniel Tuffin

" Cavalier Resources (ASX:CVR) begins PFS at Crawford

Cavalier Resources (ASX:CVR) has begun a pre-feasibility study (PFS) at the Crawford Gold Project within the…
Ten Sixty Four (ASX:X64) - Outgoing Managing Director, Paul Ryan Welker

" Ten Sixty Four (ASX:X64) terminates services agreement of former MD, Paul Ryan Welker

Ten Sixty Four (ASX:X64) has terminated the executive services agreement of former Managing Director Paul Ryan…

" M3 Mining (ASX:M3M) identifies drill targets at Edjudina

M3 Mining (ASX:M3M) has identified prospective gold-in-soil anomalies at the Edjudina gold project 150 kilometres northeast…

" Good Drinks Australia (ASX:GDA) commences the sale of Molson Coors and Magners

Good Drinks Australia (ASX:GDA) begins to sell the Miller Chill, Miller Genuine Draught, Coors, Molson Canadian…