PTC Industries shares jump over 8% after subsidiary gets IAI approval for components

India’s Aerolloy Technologies, a subsidiary of PTC Industries, has been selected by Israel Aerospace Industries (IAI) to supply cast components for aerospace applications. It represents the first time IAI has sourced such components from India. PTC Industries Chairman and Managing Director Sachin Agarwal said the move demonstrated the company’s technological capabilities, and added that opportunities had arisen to export to the defence and aerospace sectors. Aerolloy Technologies makes materials for critical and super-critical applications in aerospace.