CUDAHY, Wis., April 3 /PRNewswire/ -- Ladish Co., Inc. (Nasdaq: LDSH)
(http://www.ladishco.com) today held its 2001 annual meeting for shareholders.
At the meeting, President and CEO Kerry Woody reported, "For Ladish, 2000 was
an improvement over 1999. A combination of the turnaround in aerospace
markets and the acquisition of Pacific Cast Technologies resulted in
significant sales and earnings growth."
After reviewing the various Ladish operations and plans for improving
operating efficiencies at the company's three manufacturing facilities, Woody
advised the shareholders, "Given the momentum we established in 2000, as well
as our current plans for continuing to grow and improve Ladish, we expect
sales for 2001 to be in the range of $250 to $260 million and for our earnings
to increase by 7 to 8%. Energy prices and the general state of the world
economy continue to represent two largely external challenges. However, with
an order backlog of more than $280 million, we remain guardedly optimistic
about the global aerospace market and continued demand for Ladish products."
At the annual meeting, Ladish shareholders re-elected Woody, Lawrence
Bianchi, Charles Finkl, Wayne Larsen and Robert Sullivan to the Board of
Directors for the coming year.
Ladish Co., Inc. is a leading producer of highly engineered, technically
advanced components for the jet engine, aerospace and general industrial
markets. Ladish is headquartered in Cudahy, Wisconsin with operations in
Wisconsin, Oregon and Connecticut. Ladish common stock trades on Nasdaq under
the symbol LDSH.
This release includes forward-looking statements that are made pursuant to
the safe harbor provisions of the Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to certain risks and uncertainties
that could cause actual results to differ materially from those projected in
them. These risks and uncertainties include, but are not limited to,
anticipated slowdowns in the company's major markets, the impact of
competition, the effectiveness of operational changes expected to increase
efficiency and productivity, worldwide economic and political conditions and
the effect of foreign currency fluctuations.
SOURCE Ladish Co., Inc.
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Related links:
http://www.ladishco.com
CONTACT:
Wayne E. Larsen of Ladish Co., Inc.,
414-747-2935, fax - 414-747-2890; or William J. Libby of Libby
Communications, 203-431-8480, fax - 203-431-6132, for Ladish Co.,
Inc.
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