Published:
Ladish Completes Merger with Chen-Tech Industries
CUDAHY, Wis., Sept. 5 /PRNewswire-FirstCall/ -- Ladish Co., Inc. (Nasdaq:
LDSH) ( http://www.ladishco.com ) announces that it completed the merger of
Chen-Tech Industries, Inc. ("Chen-Tech") with a wholly owned subsidiary of
Ladish on September 4, 2008. The merger, paid in a combination of cash and
Ladish common stock, is expected to be accretive to 2008 earnings.
Commenting on the merger, Kerry L. Woody, President and CEO of Ladish,
said, "We are pleased to have the transaction with Chen-Tech finalized.
Aligning these two premier forging businesses, Ladish Forging and Chen-Tech,
will begin delivering benefits to our shared jet engine customers, Ladish and
Ladish stakeholders. Shannon Ko, President, and his team at Chen-Tech are a
strong complement to our Ladish Forging operation. Together, we expect to
increase our worldwide market share of rotating engine components by capturing
targeted growth opportunities."
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 inCudahy, Wisconsin with operations in
Wisconsin,California,Connecticut,Oregon andPoland. Ladish common stock
trades on NASDAQ under the symbol LDSH.
This release includes forward-looking statements that are made pursuant to
the safe harbor provisions of the Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to certain risks and uncertainties
that could cause actual results to differ materially from those projected in
them. These risks and uncertainties include, but are not limited to,
uncertainties in the company's major markets, the impact of competition, the
effectiveness of operational changes expected to increase efficiency and
productivity, worldwide economic and political conditions and the effect of
foreign currency fluctuations.
SOURCE Ladish Co., Inc.
Copyright © 2009, PRNewswire
Copyright © 2009, NewsBlaze,
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