Thursday, 14 December 2023
by Earn Media
3D printing specialist Titomic (ASX:TTT) has struck up a partnership with South Australian manufacturer Stӓrke Advanced Manufacturing Group to share tech expertise and industry connections.
Titomic, which has a $36.58 million market capitalisation, says under the agreement, each party will aim to leverage the advanced manufacturing technology of the other.
The deal will also help Titomic leverage Stӓrke’s ‘deep industry connections’ and its renowned expertise in delivering commercial manufacturing solutions.
Titomic notes that the partnership will also seek to provide further innovative solutions to clients in various ‘high-performance’ sectors, including defence, aerospace, and automotive.
Managing Director Herbert Koeck says the company’s agreement with Stӓrke will accelerate its growth and help it meet the ‘ever-evolving’ needs of its clients.
“We are thrilled about our partnership with Stärke, a global leader in advanced manufacturing and a partner which shares our commitment to manufacturing innovation.
“This venture promotes knowledge exchange between Titomic and Stärke, allowing us to blend our strengths and explore new applications”
This venture promotes knowledge exchange between Titomic and Stärke, allowing us to blend our strengths and explore new applications. This partnership positions us to meet the ever-evolving needs of our clients efficiently and effectively, staying at the forefront of innovation in the manufacturing industry.”
Stӓrke Co-founder and Group Chief Executive Officer (CEO) Al Jawhari says: “We believe that Titomic’s revolutionary cold spray technology will offer our current and future clients an impressively efficient turnkey technology that is faster, easier, and more cost-effective way to produce, maintain parts and products on demand.
With the current rising demand on novel solutions for emerging industries, this partnership is well suited to lead and deliver unprecedented end-to-end manufacturing services.”
Stӓrke represents a group of vertically integrated advanced manufacturing companies, including QPE Advanced Manufacturing, VPG Innovation, Stӓrke Tooling, McMahon Metal Fabrication, Stӓrke Incorporated (US), and Precise Machining & Manufacturing.
The group’s expertise lies in assisting companies across diverse industries to achieve the production of complex, high-performance, robust, and reliable components.
Titomic specialises in large integrated solutions for industrial-scale metal additive manufacturing using its patented cold spray additive manufacturing technology.
As of 30 September 2023, Titomic had $3.632 million cash and cash equivalents at hand, according to its latest quarterly report.