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SIFCO Industries announces the acquisition of MW General
Edited by : AL CIRCLE
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SIFCO Industries, a leading supplier of forged components to the aerospace and energy industries, announces the acquisition of substantially all of the operating assets and operations of MW General, Inc. (DBA General Aluminium Forgings) (“GAF”). GAF is an aerospace component supplier located in Colorado Springs, Colorado, principally supplying precision aluminum forgings to the commercial aerospace industry. GAF also supplies components to the military and medical industries. The transaction closed on July 23, 2013. Specific terms of the transaction were not disclosed.
SIFCO Industries, Inc. will operate the business under a newly created entity, General Aluminum Forgings, LLC, and will conduct business under the trade name General Aluminum Forge. GAF will be a wholly-owned subsidiary of Quality Aluminum Forge, LLC, SIFCO's existing aluminum forging business. This acquisition increases SIFCO's presence in the aluminum forging market, expands its capacity and broadens its customer base. The acquisition also continues SIFCO's focus on growing its presence in the commercial aerospace market.
SIFCO Chief Executive Officer, Michael S. Lipscomb, said: “The addition of GAF meaningfully grows our aluminum forgings business and increases our aluminum product capabilities. We are very pleased to add this business to our growing forge family.”
About SIFCO Industries, Inc. - SIFCO Industries, Inc. is engaged in producing a variety of metalworking processes, services and products produced primarily to specific customer design requirements. The processes and services include forging, heat-treating, coating, welding, and machining. The products include forgings, machined forged parts and other machined metal parts, and remanufactured component parts for turbine engines. The Company's operations are conducted in two business segments: Forged Components and Turbine Components Services and Repair. In May 2013, SIFCO Industries was recognized at the 2013 Leading EDGE Awards. This award was developed by the Entrepreneurs EDGE to recognize value-creating, mid-sized companies in the Northeast Ohio region.
SIFCO Industries, Inc. will operate the business under a newly created entity, General Aluminum Forgings, LLC, and will conduct business under the trade name General Aluminum Forge. GAF will be a wholly-owned subsidiary of Quality Aluminum Forge, LLC, SIFCO's existing aluminum forging business. This acquisition increases SIFCO's presence in the aluminum forging market, expands its capacity and broadens its customer base. The acquisition also continues SIFCO's focus on growing its presence in the commercial aerospace market.
SIFCO Chief Executive Officer, Michael S. Lipscomb, said: “The addition of GAF meaningfully grows our aluminum forgings business and increases our aluminum product capabilities. We are very pleased to add this business to our growing forge family.”
About SIFCO Industries, Inc. - SIFCO Industries, Inc. is engaged in producing a variety of metalworking processes, services and products produced primarily to specific customer design requirements. The processes and services include forging, heat-treating, coating, welding, and machining. The products include forgings, machined forged parts and other machined metal parts, and remanufactured component parts for turbine engines. The Company's operations are conducted in two business segments: Forged Components and Turbine Components Services and Repair. In May 2013, SIFCO Industries was recognized at the 2013 Leading EDGE Awards. This award was developed by the Entrepreneurs EDGE to recognize value-creating, mid-sized companies in the Northeast Ohio region.
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