CUDAHY, Wis., July 10 /PRNewswire-FirstCall/ -- Ladish Co., Inc. (
http://www.ladishco.com ) (Nasdaq: LDSH) today announced it has acquired complete
ownership of Aerex Manufacturing, Inc. ("Aerex"). Aerex, located in South
Windsor, Connecticut, is a precision-machining enterprise serving the
aerospace and commercial airplane industries since 1966. The purchase price
of Aerex was approximately $14 million, paid through a combination of cash
and Ladish common stock.
"The acquisition of Aerex, with projected 2008 sales of approximately
$15 million, represents an excellent addition to our existing value-added,
precision-machining capabilities," said Kerry L. Woody, President and CEO
of Ladish. "Ladish and Aerex serve mutual customers in the aerospace supply
chain and we have had a long-term relationship with Aerex, based on their
providing finish machining of titanium forgings produced by Ladish Forging.
Aerex, founded and led by Armund Ek, has the personnel and equipment that,
when combined with Ladish's technical expertise and forging and casting
capabilities, will provide future growth. Mr. Ek and his team will continue
to direct the operation of Aerex. We believe the combination of Aerex with
Stowe Machine Co., Inc. and Valley Machining, Inc. provides Ladish with a
stronger group of value-added operating units serving the global aerospace
industry. We expect the acquisition to be accretive to 2008 earnings."
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, Connecticut, Oregon and Poland. 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, uncertainties 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.
 back to top
Related links:
http://www.ladishco.com
CONTACT:
Wayne E. Larsen, Ladish Co., Inc.,
+1-414-747-2935, or Fax, +1-414-747-2890; William J. Libby, Libby
Communications, +1-231-755-4111, Fax, +1-231-755-4144
|
