CUDAHY, Wis., May 1 /PRNewswire/ -- Ladish Co., Inc. (Nasdaq: LDSH)
(http://www.ladishco.com) today announced that Stowe Machine Co., Inc.
(http://www.stowemachine.com), a supplier of precision machining services to
the aerospace and industrial gas turbine industries, will expand its
facilities on their nine-acre property in Windsor, CT. Stowe Machine is a
wholly owned subsidiary of Ladish.
According to Kerry Woody, President and CEO of Ladish, the expansion will
serve the increasing number of gas turbine engine companies who want suppliers
to perform more value-added processing before shipping product to customers'
plants. Company plans for the new facility call for expenditures in the
$3 million range. "Like the $11 million commitment we made last year to
double the production capacity for Pacific Cast Technologies, our titanium
investment casting company, this investment will further enhance Stowe's value
in the aerospace supply chain as a provider of machined castings and
forgings," Woody says.
William J. Lazzari, President of Stowe Machine, reports that
groundbreaking for the new plant will take place in the second quarter 2001.
"The new facility will be 10,000 square-feet and, when finished, will house
newly acquired CNC machine tools capable of machining parts with diameters up
to 60 inches," Lazzari says. "The new plant's design will take advantage of
the latest thinking about plant layout and cellular manufacturing, so we can
achieve and maintain the fastest possible turn times for customers. We are
confident this new capacity will sell quickly."
Founded in 1960 and acquired by Ladish in 1997, Stowe Machine specializes
in the precision machining of large and small components for gas turbine
engine manufacturers.
Ladish Co., Inc., is a family of precision metalworking companies
supplying forging, investment-casting, machining and tooling 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.
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SOURCE Ladish Co., Inc.
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Related links:
http://www.ladishco.com
http://www.stowemachine.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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