Titomic targets A$3 million in annual cost savings
Titomic Limited, headquartered in Huntsville, Alabama, USA, developer of Titomic Kinetic Fusion (TKF) Cold Spray Additive Manufacturing technology, has announced plans to restructure its operations, with expected annual operating cost savings of approximately $2.1 million.
The changes include restructuring sales, marketing and production support roles in Australia, removing selected non-programme-related roles in the USA, and reducing expenditure on consultants across Australia, the USA and Europe.
The restructuring is expected to be completed by the end of October, with implementation costs estimated at $420,000, covering notice payments, redundancies and associated expenses.
Australia will remain Titomic’s global research and development centre, leading technology and application development for international markets.
“These targeted changes demonstrate our commitment to disciplined cost management, with ~A$3.0 million in expected annualised savings as we accelerate our commercial development and position the company to achieve cash flow break-even during 2027,” stated Dag Stromme, Executive Chair of Titomic. “Australia remains central to Titomic’s future. Our Australian operations will remain as our global R&D centre of excellence, supporting the technology development that underpins our accelerating international commercial scaling.”
