PTC Industries Ltd, known for producing high-quality, precision metal components for critical and supercritical applications, announced on October 19 that it has signed a Share Purchase Agreement (SPA) to acquire 100% of Trac Precision Solutions Ltd (TSPL), a UK-based firm specializing in precision-engineered components for the aviation, defense, and power generation sectors. The agreement was finalized on October 20, 2024.
Under the terms of the agreement, PTC Industries will obtain TSPL and its parent company, Trac Holdings Ltd, along with three additional non-operating entities: Broomco (4266) Ltd and Trac Group Ltd. Once the acquisition is complete, Trac Holdings will be fully owned by it, while TSPL and the other entities will be classified as step-down subsidiaries. The company stated that this acquisition is contingent upon approval under the UK’s National Security and Investment Act 2021.
Earlier this year, PTC Industries received a notable production order from BAE Systems for titanium castings needed for the M777 Howitzer. The company confirmed in a stock exchange filing that it secured this order for titanium castings related to the M777 Ultra-Lightweight Howitzer (ULH), specifically including Spade Trails and Blades.
These components have been developed over the past two years and will be manufactured at PTC Industries’ advanced facility in Lucknow, Uttar Pradesh. PTC Industries is a prominent manufacturer of high-quality castings and forgings, specializing in advanced materials and critical components for sectors such as aerospace, defense, energy, and industrial applications.
Founded in 1963, the company has a reputation for innovation and precision engineering, with a focus on producing complex metal parts using cutting-edge technology. PTC Industries employs advanced manufacturing processes, including 3D printing and investment casting, to deliver superior components that meet the stringent demands of global industries. With a strong emphasis on research and development, PTC continues to expand its capabilities, contributing to India’s growing role in high-tech manufacturing and strategic sectors.
