CUDAHY, Wis., Nov. 30 /PRNewswire-FirstCall/ -- Ladish Co., Inc.
(http://www.ladishco.com) announced today it has reached an agreement in
principle to acquire Valley Machining, Inc. ("Valley"). Located near La
Crosse, Wisconsin, Valley is a long-standing, proven supplier of precision
machined components to Ladish and other aerospace material companies. Ladish
expects the transaction to close prior to year-end and will finance the
purchase with cash on hand or its revolving credit facility.
Commenting on the acquisition, Kerry L. Woody, President & CEO of Ladish,
said, "The acquisition of Valley will be a winning combination for all
concerned. Our customers will clearly gain from Ladish adding this precision
machining capacity at a time when the aerospace sector continues to trend up.
Ladish stockholders will benefit from an immediately accretive transaction.
Valley, as a part of the Ladish family of companies, will have the business
and financial support to contribute to future corporate growth."
Mr. Woody observed, "We have always been impressed with Valley's service
and capabilities. We believe they provide a solid base to meet today's needs
as well as an excellent opportunity for strategic expansion."
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.ladishco.com
CONTACT:
Wayne E. Larsen of Ladish Co., Inc.,
+1-414-747-2935, Fax: +1-414-747-2890; or William J. Libby of
Libby Communications, +1-203-431-8480, Fax: +1-203-431-6132
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