Australia's Titomic gains as Woodside plans to use co's metal coating product

Titomic

11/06/2024 02:39

** Shares of Titomic  TTT.AX  rise as much as 8.8% to
A$0.099, their highest level since May 20
    ** The metal additives maker says energy co Woodside Energy
 WDS.AX  to use Titomic's D523 Systems at its North Rankin
offshore gas platform in the Indian Ocean
    ** D523 system is low-pressure cold spray system used for
building, coating and repairing soft metals
    ** Says system will be used to deposit corrosion-resistant
materials like aluminium directly onto steel and other metals
without heat and without structure disassembly
    ** About 4.4 mln shares change hands, compared with 30-day
average trading volume of 2.9 mln shares 
    ** Stock up 111.6% YTD, as of last close
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))