Ladish Co. Inc. has made an offer to acquire HSW-Zaklad Kuznia Matrycowa (ZKM), a forging company in Stalowa Wola, Poland. The $13-million offer to ZKM’s parent with Huta Stalowa Wola Spolka Akcyjna (HSW) is preliminary, is subject to certain conditions being fulfilled by HSW and attainment of several permits and approvals by Ladish, but should be completed in the third quarter of this year.
ZKM produces industrial forgings for the Polish and other European markets, and has a current annual sales of $35 million.
Kerry L. Woody, president and CEO of Ladish, stated: "For a number of years we have worked with ZKM to supply industrial forgings for certain of our customers in the U. S., and we are excited about the prospect of making ZKM a part of the Ladish family of metalworking companies."
"ZKM has the personnel, equipment and cost structure capable of significant growth,” Woody continued. “This acquisition represents an excellent opportunity for Ladish to establish a manufacturing base in the European Union. Approximately 50% of Ladish's annual sales serve international markets. ZKM will enable us to expand our participation in these international industrial arenas and, ultimately, to make further inroads into international aerospace markets with a cost-effective Eastern European producer."
Based in Cudahy, WI, Ladish produces engineered components for the jet engine, aerospace, and general industrial markets. It has operations in Wisconsin, Oregon, and Connecticut.