Ladish Co. Inc. said Wednesday that it plans to invest $16 million to $20 million to build a new investment casting foundry in Mexico.
The facility will produce titanium components and expects to supply aerospace customers in Mexico, the rest of North America and worldwide.
Kerry Woody, president and chief executive officer of Cudahy-based Ladish, said the expansion plan is being driven by an "unprecedented" backlog of orders that is approaching $600 million. The company must also meet build-schedule requirements under a number of long-term agreements.
Company officials report that they are finishing due-diligence analysis of several possible locations for the planned 55,000- to 60,000-square-foot plant. The company expects to complete the site-selection process during the first quarter of 2008.
Woody said that after finalizing negotiations on a plant location, the plant could be up and running in 14 to 20 months.
Ladish Co. (NASDAQ: LDSH) forges metal components for the jet engine, aerospace and general industrial markets.