- 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.