Ladish announced on July 10, 2008 that they acquired Aerex Manufacturing, Inc., based in South Windsor, CT. Aerex sales revenue is only $15M per year, so one would wonder why Ladish would add it to their portfolio when Ladish had revenues of $424M in 2007. Such a small acquisition will add to the bottom line, but it will not be significant. However, it seems Ladish, while expecting additional net income, is also pursuing a supply chain strategy as well.
In the announcement, Kerry L Woody, president and CEO of Ladish is quoted as saying “Ladish and Aerex serve mutual customers in the aerospace supply chain 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. 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.”
Ladish is a holding company of advanced metalworking companies that supply highly engineered products and services to aerospace and industrial manufacturers. The subsidiaries include: Ladish Forging, ZKM forging, Pacific Cast Technologies, Stowe Machine, Valley Machining, and Diecast Tooling.
Ladish’s core competency is as a producer of technically advanced metal components. The company supplies forgings, investment castings, machining services and tool-making products to a range of customers around the globe. Ladish’s strategy is one of growth through continuous improvements, capital investments, acquisitions and joint ventures. Customers include major aerospace and engine manufacturers, among many others.