Australia's Titomic climbs on JV agreement to set up additive manufacturing facility

Titomic

23/06/2022 02:20

** Shares of metal additives manufacturer Titomic  TTT.AX 
rise as much as 14.3% to A$0.240, their highest since April 8
    ** Co signs joint venture agreement with Repkon Machine and
Tool Industry and Trade Inc to establish hybrid additive
manufacturing facility to supply barrels in the defence sector
 urn:newsml:reuters.com:*:nASX2bLH0t
    ** Says agreement is expected to result in A$7.6 mln ($5.26
mln) sale of two Titomic Kinetic Fusion Systems by co and a
share in profits from barrel sales
    ** Shares mark their biggest intraday pct gain since June 8
    ** As of last close, stock up 7.7% this year

($1 = 1.4455 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))