PTC Shares Up 3% on Unit's Long-Term Supply Deal with Honeywell Aerospace

MT Newswires Live12-05

Aerolloy Technologies, a wholly-owned subsidiary of PTC Industries (NSE:PTCIL, BOM:539006), has entered into a long-term agreement with Honeywell Aerospace Technologies, according to a Friday filing to the Indian stock exchanges.

The contract is for the supply of titanium and superalloy precision investment castings for Honeywell's global aerospace programs, including critical aerospace engine components.

The products will be manufactured in a facility in Uttar Pradesh, India. A dedicated production capacity will be earmarked for Honeywell to allow long-term, stable revenue visibility for Aerolloy.

The company's shares were up nearly 3% in recent trade.

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