ALBANY, Ore., Sept. 4 /PRNewswire-FirstCall/ -- Pacific Cast
Technologies, Inc. (http://www.paccast.com) (PCT), a wholly owned subsidiary of
Ladish Co., Inc. (http://www.ladishco.com) (Ladish), recently announced plans to
expand its melting capacity with a new VAR furnace at its Albany, Oregon
facility. Today, PCT is announcing it will expand upon that project to
increase the plant's manufacturing capacity to support growing demand.
"Our major customers are extending their long-term agreements with us.
This is a clear signal of our customers' belief in the sustainability of
this aerospace cycle and of their confidence in PCT to respond to their
requirements," said Randy Turner, President of PCT. "In the face of this
demand, we will double our finishing and inspection capabilities. When
coupled with our current investment in a new furnace, which is doubling our
melting capacity, we will have invested about $12 million to support
growth. The expansion project will break ground in December of this year.
Production output is planned for first quarter 2009."
According to Turner, PCT has strong participation in growing engine
programs with Rolls-Royce, General Electric, IHI, MHI and Snecma, as well
as in airframe components for Boeing and Airbus. Our sales forecasts have
identified the need for higher production levels beyond the near-term
aerospace cycle. "We believe we will see above-average, sustainable demand
for the medium term -- three to seven years out -- and that we will
maximize organic growth through expanded investments during this cycle,"
Turner says.
"PCT is a key element of the Ladish growth strategy," said Kerry L.
Woody, President and CEO of Ladish. "Customers recognize the significant
contribution PCT is making to their supply-chain improvement initiatives.
The growth in demand for titanium engine and airframe components, reflected
in a strong backlog and forecasted requirements, supports our continued
investment in PCT."
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, Connecticut and Poland. Ladish common
stock trades on Nasdaq under the symbol LDSH.
SOURCE Ladish Co., Inc.
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Related links:
http://www.paccast.com
http://www.ladishco.com/
CONTACT:
Wayne E. Larsen of Ladish Co., Inc.,
414-747-2935, Fax +1-414-747-2602; or William J. Libby of Libby
Communications, +1-231-755-4111, Fax +1-231-755-4144
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