- Titomic (TTT) sells its first four cold spray systems into the Australian transport industry
- Four separate businesses put in orders for the company’s D523 low-pressure cold spray system, bringing in a total of $314,900 in sales
- TTT says the increasing adoption of D523 in Australia highlights its clear focus on coatings and repairs as a strategic growth area which it believes will “continue to pay dividends”
- The most recent sales follow on from two sales to customers in the Asia Pacific region
- Company shares last traded at 26.5 cents on July 6
Titomic (TTT) has sold its first four cold spray systems into the Australian transport industry.
The Aussie company’s core business focuses on integrated solutions for industrial-scale metal additive manufacturing, using its cold spray additive technology.
Today, TTT announced it had received purchase orders from four separate businesses in the engine remanufacturing and rail transport sectors for its D523 low-pressure cold spray system, bringing in a total of $314,900.
The D523 system is touted as enabling users within a broad range of industries, including mining, oil and gas, transport, and aerospace, to “rapidly” restore parts and equipment to maximise equipment uptime and minimise maintenance costs.
Further, Managing Director Herbert Koeck said the system’s capabilities in a quick turnaround time leads to higher profitability for users and secures supply chains.
The company believes the increasing adoption of its D523 system in Australia, is evidence of its clear focus on coatings and repairs as a strategic growth area which will “continue to pay dividends”.
The sales follow on from two sales to customers in the Asia Pacific region, namely one of the company’s Authorised Service providers, Brauntell, and oil and gas engineering company DNC Coatings.
In December last year, the company acquired Dycomet which makes it the only global supplier of low, medium and high-pressure cold spray systems.
With this capability, Mr Koeck said the company is able to partner with businesses across multiple regions in the engine remanufacturing and rail transport sectors by offering technology that compliments existing manufacturers.
“These sales further build upon the company’s diversified revenue strategy, which includes the sale of Titomic Kinetic Fusion systems for research and development purposes, joint ventures and sales from consumables, machine solutions in key sectors such as defence and aerospace, and provision of cold spray systems for repair and maintenance.
“These D523 sales also validate our market orientation, as we’re beginning to fulfil the strong and growing demand for efficient and effective repairs and servicing – a need that has long existed in the market,” Mr Koeck said.
Company shares last traded at 26.5 cents on July 6.