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Titomic acquires leading European cold spray technology company Dycomet Europe B.V.

November 30, 2021

Titomic Secures New U.S. Orders Across Strategic Aerospace, Defense, Energy and Industrial Markets

HUNTSVILLE, AL – Titomic Limited (ASX: TTT) (“Titomic” or the “Company”), an advanced manufacturing company delivering high-performance products and sustainment services for aerospace, defense, energy, and industrial markets, is pleased to announce that it has received new purchase orders from major U.S. defense primes and energy companies over the past two weeks with a combined value exceeding A$750,000.

The U.S. orders have been received from major aerospace prime contractors and a leading company in the energy sector spanning several of Titomic’s highest-priority markets, including:

  • Military and commercial space;
  • Commercial and military aircraft; and
  • Oil & gas.

The significance of the orders extends beyond their initial value, further validating Titomic’s strategy to focus its proprietary cold spray and Titomic Kinetic Fusion™ capabilities on mission-critical applications in markets where speed, material performance, supply-chain resilience, and advanced manufacturing capability are increasingly important.

The new orders provide both near-term revenue and further evidence of customer progression from initial engagement and qualification toward repeat and potentially larger-scale opportunities.

Importantly, the orders further expand Titomic’s relationships and manufacturing credentials with major prime contractors and strategic customers in sectors in the U.S central to its long-term growth strategy.

Titomic Managing Director and CEO Jim Simpson said:

“These orders are important not because they represent more than A$750,000 in new business, but because of where they are coming from and what they signal for Titomic’s future. Over the past several years, we have deliberately focused the Company on markets where our technology can solve meaningful manufacturing and sustainment challenges — aerospace, defense, space and energy. Receiving four U.S. orders in a two-week period across those exact markets is a strong indication that this strategy is gaining momentum. We are increasingly moving from demonstrating what our technology can do to delivering solutions or major customers. While individual orders are important, the broader trend is what gives us confidence. Titomic’s sizeable and growing sales pipeline is increasingly converting into contracted work across the markets we have deliberately targeted.”

Building a Foundation for Repeat Orders and Expanded Production

Titomic’s commercial strategy is focused on securing initial customer applications that can establish technical and manufacturing credibility and create pathways toward qualification, repeat orders and larger production programs with significant recurring revenue.

The latest orders affirm this strategy across multiple end markets and demonstrate the increasing relevance and advantages of Titomic’s advanced manufacturing capabilities to both new production and sustainment requirements.

This announcement has been authorized for release by Titomic’s Board of Directors.

Titomic Limited (ASX: TTT, Titomic or Company) has at close of business yesterday acquired leading European cold spray technology company, Dycomet Europe B.V. (Dycomet).

Dycomet is a Netherlands-based company offering low and medium pressure cold spray technology solutions to various industries since 2006. In 2016 Dycomet also added high pressure cold spray solutions to their portfolio, which will provide Titomic’s European customers with local support and capability. Dycomet’s portfolio includes turn-key cold spray solutions, research and development services via an in-house laboratory, software development and the provision of servicing, spare parts and consumables for its systems. Its clients include household brands such as Rolls-Royce, Mercedes, Airbus, Siemens, VW, and several leading universities. Dycomet is well aligned with Titomic’s strategic approach targeting markets such as the aviation and automotive industry.

Herbert Koeck, Chief Executive of Titomic, commented:

“The acquisition of Dycomet is a significant step in Titomic’s strategic pathway to being a global company. We are excited to welcome Dycomet onboard and look forward to working with Klaas and his team on the many exciting opportunities that this acquisition presents. While Titomic focuses on high-pressure applications, Dycomet services the soft-end low and medium-pressure market. With our complementary machinery and product portfolio, the combined expertise now available to the Company will further accelerate the Company’s growth into new markets and provide current customers with a broader product offering.”

Dycomet’s Founder and Chief Executive, Klaas Rozema, will step into the new role of General Manager of Titomic Europe. Klaas brings a wealth of experience in cold spray technology, having spent the past 13 years building Dycomet to now hold a leading position in the European market.

Klaas Rozema, Chief Executive of Dycomet, commented:

“I am delighted that Dycomet has been acquired by a new owner who understands our industry. Titomic is an excellent complementary fit with our current product set and expertise and can support the next phase of growth, offering a wealth of opportunities for our team. I will continue to lead the business in Europe, and I look forward to working with Herbert to bring the two companies together and ensure the synergies between the two businesses are fully harnessed.”

The transaction will provide Titomic with a base in Europe, giving it exceptional global access together with its Australian Headquarters and Titomic USA. The acquisition will be immediately revenue accretive for Titomic with a healthy pipeline of customer orders in Europe. Several synergies that will be immediately realised between the businesses include additions to Titomic’s comprehensive product portfolio, wider product offers to current customers, use of complementary machinery sets from both sides, Titomic’s ability to service and maintain additional industry machinery in Europe and providing technical and sales functions for the Company in the region

INVESTOR CONTACT

Geoff Hollis
Titomic
Chief Financial Officer
P: +61 438 168 008
E: [email protected]

MEDIA CONTACT

Dr. Patti Dare
Titomic
President, USA
P: +1 408 306 4975
E: [email protected]

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