Melbourne, Australia, July 8th 2019: Australian Digital Manufacturing Molutions company, Titomic Limited (ASX: TTT) (“Titomic” or “Company”), is pleased to announce it has entered into an agreement with FLSmidth, a global innovator of sustainable productivity equipment for the mining industry, headquartered in Copenhagen, Denmark.
Under this production trial, Titomic will utilise its proprietary Titomic Kinetic Fusion™ (TKF) additive manufacturing process to build high-wear resistant parts at a preliminary cost of AUD $12,275 per part. The aim of this prototype is to validate improvements for high-wear resistant mining equipment using Titomic Kinetic Fusion™.
Titomic’s TKF unique additive manufacturing capability for metallurgical fusion of dissimilar metals surpasses the current capability of traditional manufacturing, enabling Titomic to introduce higher performing materials to the mining industry which are pivotal to minimising downtime and significantly improving productivity.
On the successful completion of test trials, Titomic will negotiate a contract to supply OEM production of high-wear resistant parts to FLSmidth from its TKF Melbourne Bureau for the global mining industry.
As the market-leading supplier of engineering, equipment and service solutions, FLSmidth delivers sustainable productivity to the global mining and cement industries which improves performance, drives down costs, and reduces the environmental impact of operations. In 2018, FLSmidth generated a revenue of AUD$3.98 billion across 60 countries.
Mr. Jeff Lang, Titomic Managing Director commented:
Titomic is proud to partner with FLSmidth, the global leader in sustainable productivity to the mining industry to deliver TKF additive manufactured parts with real economic value to mining operations. The mining industries' equipment breakdowns are timely and expensive setbacks for operations and Titomic is well positioned, as the global leader in industrial scale metal additive manufacturing, to partner with FLSmidth to provide next generation technologies for improved commercial benefits of their customers.
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About Titomic Limited:
Titomic (ASX:TTT) is an Australian public company specialising in digital manufacturing solutions for industrial scale metal additive manufacturing using its patented Titomic Kinetic Fusion® (TKF) technology. The TKF technology provides unique capabilities for producing commercially viable additively manufactured metal products competing directly with traditional manufacturing methods. Titomic provides OEM production and R&D services from their TKF Smart Production Bureaus to the global Aerospace, Defence, Shipbuilding, Oil & Gas, Mining and Automotive industries. Titomic also provides an extensive range of metal powders for 3D Printing especially Titanium and super alloys whilst providing sales and support services for their TKF production systems.
FLSmidth delivers sustainable productivity to the global mining and cement industries. We deliver market-leading engineering, equipment and service solutions to our customers enabling them to improve performance, drive down costs and reduce environmental impact. Our operations span the globe and our 11,400 employees are present in more than 60 countries. In 2018, FLSmidth generated a revenue of DKK 18.8 billion.
For more information please visit: www.flsmidth.com
Certain statements made in this release are forward-looking statements and are based on Titomic’s current expectations, estimates and projections. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “guidance” and similar expressions are intended to identify forward-looking statements. Although Titomic believes the forward-looking statements are based on reasonable assumptions, they are subject to certain risks and uncertainties, some of which are beyond Titomic’s control, including those risks or uncertainties inherent in the process of both developing and commercialising technology. As a result, actual results could materially differ from those expressed or forecasted in the forward-looking statements. The forward-looking statements made in this release relate only to events as of the date on which the statements are made. Titomic will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this release except as required by law or by any appropriate regulatory authority.