Safran Aircraft Engines is the French global leader in aero engine design, development, and manufacturing.

Safran, alongside with other Safran companies, has a strong footprint in India with five production facilities in the country (between Hyderabad, Bangalore and Goa), which will be completed by a sixth site in Hyderabad dedicated to the LEAP MRO activities by 2025. The country is the third largest operator of the LEAP engine in the world, with 75% of Indian commercial aircraft being equipped with CFM’s advanced turbofan. To date, more than 2,200 LEAP engines are ordered by Indian airlines.

Safran Aircraft Engines’ ambition is to develop a comprehensive aero engines ecosystem in India, strengthening its global supply-chain built for the LEAP production ramp-up.

Under the terms of the contract, PTC Industries will produce titanium-casting parts for Safran Aircraft Engines.

Based in Lucknow (Uttar Pradesh), PTC Industries has a long-standing expertise in advanced casting processes, as well as precision machining. The first titanium casting parts for LEAP engines are scheduled to be delivered early in 2024 for the LEAP engine powering single-aisle jet.

Sachin Agarwal, chairman & managing director, PTC Industries, said: "We are delighted to develop a new cooperation with one of the world-leading aircraft engine manufacturer. Through this partnership, we are looking forward to leveraging our expertise in casting process to support the ambitious production challenges of the LEAP program."

PTC Industries is a leading Indian manufacturer of precision metal components for critical applications for over 60 years. Through its wholly owned subsidiary Aerolloy Technologies Limited, the company is manufacturing and supplying Titanium and Superalloy castings for Aerospace and Defence applications within India as well as for exports.

The scrip was locked in 5% upper circuit at Rs 4944.20 in trade on Monday.