PTC’s Aerolloy, Safran ink defence MoU

PTC Industries shares gained after its subsidiary Aerolloy Technologies signed a MoU with Safran Aircraft Engines.

The deets: as per the MoU, both companies will co-operate on manufacturing of components & materials for military aircraft engines.

Aerolloy Technologies will be involved in the manufacturing of castings and materials for aerospace applications.

Safran Aircraft Engines will be involved in the design, development, production & maintenance of civil and military engines.

The why: the MoU marks a significant step towards enhancing India’s indigenous capabilities in military aircraft engine manufacturing.

Zoom out: PTC Industries has been on an uptrend since announcing partnerships with leading entities under the Defence Testing Infrastructure Scheme (DTIS) to support the ‘Make-in-India’ initiative in the defence and aerospace sectors.