CUDAHY, Wis., Sept. 5 /PRNewswire/ -- Ladish Co., Inc. (Nasdaq: LDSH)
(http://www.ladishco.com) the parent company of Pacific Cast Technologies,
Inc. ("PCT") (http://www.paccast.com), a supplier of castings to aerospace, is
planning a capital investment that will effectively double the PCT plant's
capacity to produce titanium components. The investment is expected to be in
the $10-$12 million range and will fund the acquisition of equipment for the
wax-pattern, mold-making and vacuum-furnace areas, as well as the physical
expansion of PCT's facility in Albany, Oregon.
"When we purchased PCT in January we felt PCT was an excellent platform
for growth," says Kerry L. Woody, Ladish's President and CEO. "We have
confidence in the business and in management's outlook assessment of its
business opportunities. With the forecasted increase in sales, the decision
for strategic investment received support of the Board of Directors.
Furthermore, we see in our aerospace forging business that orders have
significantly improved compared to 1999 and look strongly positive for the
foreseeable future. This is an ideal time for judicious investments."
"We are committed to satisfying our airframe and aircraft turbine engine
customers' strong demand for highly engineered cast titanium components," says
Randy Turner, PCT's President. "This investment will ensure we deliver on our
commitment."
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.
Founded in 1967, Pacific Cast Technologies, Inc. supplies investment cast
titanium parts for airframe, turbine engine, and aerospace structural
applications. PCT is located in Albany, Oregon, and is a wholly owned
subsidiary of Ladish Co., Inc.
SOURCE Ladish Co., Inc.
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Related links:
http://www.ladishco.com
http://www.paccast.com
CONTACT:
Wayne Larsen of Ladish Co., Inc.,
414-747-2935, or Fax, 414-747-2890; or William Libby of Libby
Associates, 203-431-8480, or Fax, 203-431-6132, for Ladish Co.,
Inc.
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