CUDAHY, Wis., Sept. 5 /PRNewswire-FirstCall/ -- Ladish Co., Inc.
(Nasdaq: LDSH) ( http://www.ladishco.com ) announces that it completed the
merger of Chen-Tech Industries, Inc. ("Chen-Tech") with a wholly owned
subsidiary of Ladish on September 4, 2008. The merger, paid in a
combination of cash and Ladish common stock, is expected to be accretive to
2008 earnings.
Commenting on the merger, Kerry L. Woody, President and CEO of Ladish,
said, "We are pleased to have the transaction with Chen-Tech finalized.
Aligning these two premier forging businesses, Ladish Forging and
Chen-Tech, will begin delivering benefits to our shared jet engine
customers, Ladish and Ladish stakeholders. Shannon Ko, President, and his
team at Chen-Tech are a strong complement to our Ladish Forging operation.
Together, we expect to increase our worldwide market share of rotating
engine components by capturing targeted growth opportunities."
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, California, 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.
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Related links:
http://www.ladishco.com
CONTACT:
Wayne E. Larsen of Ladish Co., Inc.,
+1-414-747-2935, +1-414-747-2602, Fax; or William J. Libby of
Libby Communications for Ladish Co., Inc., +1-231-755-4111,
+1-231-755-4144, Fax
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