Mumbai, Jan. 30 -- Advanced manufacturing and materials technology company PTC Industries, on Thursday, announced the signing of a Memorandum of Understanding (MoU) with the Government of Odisha to establish an aerospace-grade titanium sponge manufacturing facility in the state.

The company said in an exchange filing that the initiative will position PTC (and its subsidiary Aerolloy Technologies) as one of the very few companies in the world with an integrated titanium manufacturing value chain--spanning from the production of titanium sponge, titanium alloy ingots, forged billets, rolled bars, rods, sheets, plates, and precision castings.

Titanium sponge is the fundamental raw material required for manufacturing titanium alloys, which ...