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Ladish Acquires Aerex Manufacturing

Acquisition adds to forging company's value-added capabilities.

Ladish Co., Inc. ( ) has announced it has acquired complete ownership of Aerex Manufacturing, Inc. Aerex, located in South Windsor, Connecticut, is a precision-machining enterprise serving the aerospace and commercial airplane industries since 1966. The purchase price of Aerex was approximately $14 million, paid through a combination of cash and Ladish common stock.

"The acquisition of Aerex, with projected 2008 sales of approximately $15 million, represents an excellent addition to our existing value-added, precision-machining capabilities," said Kerry L. Woody, president and CEO of Ladish.

"Ladish and Aerex serve mutual customers in the aerospace supply chain,” he continued, “and we have had a long-term relationship with Aerex, based on their providing finish machining of titanium forgings produced by Ladish Forging.

“Aerex, founded and led by Armund Ek, has the personnel and equipment that, when combined with Ladish's technical expertise and forging and casting capabilities, will provide future growth,” Woody stated. “Mr. Ek and his team will continue to direct the operation of Aerex. We believe the combination of Aerex with Stowe Machine Co., Inc. and Valley Machining, Inc. provides Ladish with a stronger group of value-added operating units serving the global aerospace industry. We expect the acquisition to be accretive to 2008 earnings."

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, Connecticut, Oregon, and Poland.

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