DPC Holdings: Initiate at Buy: A Castings House Looking to Become a Powerhouse

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DPC Holdings: Initiate at Buy: A Castings House Looking to Become a Powerhouse

DPC Holdings Ltd (DPC)

Equity Research

July 20, 2026

Aerospace Product Set: North America is the primary home of the Aerospace business, with key

products & components supporting the engine OEMs of GE, Honeywell, Safran, Rolls-Royce and RTX

Pratt & Whitney and Tier 1 suppliers including RTX Collins:

Structural Castings: Engine and aircraft platform structural castings using nickel and cobalt-•

based superalloys, including stationary parts such as turbine center frames, bearing housings,

combustion diffusers, fins & inducers, near flow path seals, blade outer seals, combustion seal

segments, injector housings, and nozzles. These components are present throughout the entire

engine and carry high qualification requirements given their safety-critical operating environment.

Turbine Airfoils (New Entry): Through a strategic partnership over 15 years, DPC is entering the•

aerospace airfoils market for blades & vanes with capability for equiax, directionally solidified, and

single-crystal using nickel and cobalt-based superalloys. The investment in Oxford, AL will install

DS and SC casting equipment to be installed & commissioned by the end of 2027 with production

ramp up in 2028 and full-rate in 2029. This expansion will open up the aftermarket opportunity

in Aerospace.

Forged Compressor Airfoils: Forged compressor airfoils composed of stainless steels, nickel•

alloys, and titanium alloys. These components operate in demanding aeroengine environments

and complement DPC’s broader engine product portfolio.

Torque Bars: Structurally cast braking system torque bars supplied across commercial aero &•

defense platforms supported by RTX Collins. Torque bars are highly spareable components with