PTC Industries Ltd.

PTC Industries Limited Announces Key Appointments in Board Meeting

08/07/2024

PTC Industries Limited has announced significant decisions made during the Board of Directors meeting.

1. Re-appointment of Independent Director:The Board has approved the re-appointment of Mr. Vishal Mehrotra (DIN: 08535647) for a second consecutive term of five years, starting from the completion of his first term. This re-appointment is subject to shareholder approval through a Special Resolution at the upcoming Shareholder Meeting.

2. Appointment of New Independent Director: The Board has also approved the appointment of Mr. Kamesh Gupta (DIN: 09542162) as an Independent Director for a term of five years. This appointment is also subject to the approval of shareholders through a Special Resolution at the forthcoming Shareholder Meeting.

PTC Industries Joins SPV as Part of Government's 'Make in India' Drive for Defence and Aerospace Sector Enhancement

10/06/2024

PTC Industries, a manufacturer of high-quality high-precision metal components for various critical and super-critical applications, is delighted to announce its partnership with leading entities under the DTIS scheme in the Indian Defence and Aerospace sector to advance the 'Make in India' initiative.

To overcome the challenge of expensive, state-of-the-art testing infrastructure, a Green Field Defence Testing Facility is being established in the Lucknow Node of the UP Defence Industrial Corridor under the DTIS scheme. This facility, named “Advanced Materials (Defence) Testing Foundation” is a collaborative effort among key industry players including Hindustan Aeronautics Limited, Bharat Dynamics Limited, Mishra Dhatu Nigam, Yantra India Limited, PTC Industries Limited and Uttar Pradesh Expressways Industrial Development Authority, with the land being provided by the Uttar Pradesh Expressway Industrial Development Authority. The Government of India will fund 75% of the project cost, with the remaining 25% funded by the SPV members, totalling an approximate cost of Rs. 53 crores.

The establishment of this facility, through joint initiatives of these leading defence organizations, will be a significant catalyst for the Indian defence ecosystem, creating state-of-the-art testing capabilities for advanced materials within the country. This is an important step forward for PTC Industries which is already setting up advanced materials manufacturing capabilities in the country with the building of its Strategic Materials Technology Complex in Lucknow. This Defence Materials testing facility will help to further substantiate the integrity and reliability of advanced materials being manufactured by PTC, ensuring superior quality and compliance with stringent defence standards for Titanium and Super Alloys.