Titomic Limited (ASX:TTT) Expands US Operations with Huntsville Acquisition
Acquisition Details
Titomic Limited (ASX: TTT) announced the acquisition of a 59,000-square-foot facility in Huntsville, Alabama for US$7.2 million. The facility will serve as an Innovation Center for Cold Spray Additive Manufacturing and is set to be operational in Q2 2025 with low, medium, and high-pressure cold spray solutions.
Financing Secured
The company secured US$5.75 million through a 25-year financing agreement with First National Bank (Alabama) at an initial interest rate of 6.5%. Additionally, Innovate Alabama provided a $1 million surety to support Titomic’s innovation and economic development initiatives in the region.
Strategic Investment
The Huntsville facility positions Titomic near key US defense and aerospace hubs, including the Department of Defense’s Redstone Arsenal and NASA’s Marshall Space Flight Center. This strategic location supports advancements in cold spray technology and strengthens collaborations with industry and defense partners.
Looking Ahead
Over the next 12 months, Titomic plans to scale production at the new facility, expand partnerships with aerospace and defense leaders, and enhance workforce development initiatives in collaboration with local universities and technical institutions.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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