CUDAHY, Wis., April 9 /PRNewswire/ -- Ladish Co., Inc. (Nasdaq: LDSH)
(http://www.ladishco.com) announced today that the Board of Directors has
unanimously approved a comprehensive four-year, $75-million capital investment
plan for the Cudahy, Wisconsin forging operation. Committed expenditures will
advance core metalworking competencies and improve cost effectiveness through
facility modernization, new equipment, and process improvements.
"Nearly every airframe and jet engine manufacturer worldwide uses Ladish
forgings in their products," says Kerry Woody, President and CEO of Ladish.
"The outlook for aerospace forgings is strong, and our expenditures over the
course of the next four years are targeted to take advantage of opportunities
in both commercial and military markets. We are confident this modernization
plan will significantly improve our cost competitiveness, allowing us to meet
customer cost challenges as well as satisfy shareholder expectations for
earnings-per-share growth."
In addition to the Cudahy Forging operation, Ladish also owns Pacific Cast
Technologies, a titanium investment casting business in Albany, Oregon, and
Stowe Machine, a precision machining business in Windsor, Connecticut. Last
year the company committed to an $11 million expansion to double capacity at
Pacific Cast Technologies, and the year before that expanded Stowe Machine by
more than 40%. "We are excited about the prospects for continued sales growth
throughout the Ladish family of aerospace, metalworking companies," Woody
says. "Our businesses provide technically complex, highly engineered products
to an industry which demands the highest quality from its supply base. This
Cudahy modernization will complement technology advances already completed
over the last several months."
Cudahy Forging activity in the area of technology includes the development
of a "Super Cooler," a proprietary high-velocity quenching technology for
rotating jet engine parts, which is patent pending. New equipment includes an
aluminum heat-treatment facility, featuring process controls designed to meet
stringent aerospace requirements for temperature uniformity and
quench-transfer times.
"Our customers demand better solutions, our shareholders expect improved
value in their investment, and our employees are committed to continuous
improvement," Woody says. "This modernization plan will benefit all
stakeholders, and ensure our future as a preferred supplier to the world's
finest aerospace industries."
Ladish Co., Inc., is a family of precision metalworking companies
supplying forging, investment-casting, machining and tool-making products and
services to original equipment manufacturers worldwide. 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
Company News On-Call:
http://www.prnewswire.com/comp/131444.html or fax,
800-758-5804, ext. 131444
CONTACT:
Wayne E. Larsen of Ladish Co., Inc.,
414-747-2935, fax - 414-747-2890; William J. Libby of Libby
Communications, 203-431-8480, fax - 203-431-6132, for Ladish Co.,
Inc.
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