Ladish behavior means sale of ZKM
Although the deal is subject to certain conditions and pending permits, and final terms have not been disclosed, it is thought to be worth in the region of $13 (zł.38.22) million.
HSW, located in Stalowa Wola, produces and sells industrial forgings in Poland and Europe worth $35 (zł.102.92) million annually. Ladish is a leading producer of high-tech components for the jet engine, aerospace and general industrial market and is listed on the Nasdaq.
"For a number of years we have worked with ZKM to supply industrial forgings for certain of our customers in the US, and we are excited about the prospect of making ZKM a part of the Ladish family of metalworking companies," said Kerry L. Woody, president and CEO of Ladish.
"ZKM has the personnel, equipment and cost structure capable of significant growth. This acquisition represents an excellent opportunity for Ladish to establish a manufacturing base in the EU. Approximately 50 percent of Ladish's annual sales serve international markets. ZKM will enable us to expand our participation in these arenas."
HSW, located in Stalowa Wola, produces and sells industrial forgings in Poland and Europe worth $35 (zł.102.92) million annually. Ladish is a leading producer of high-tech components for the jet engine, aerospace and general industrial market and is listed on the Nasdaq.
"For a number of years we have worked with ZKM to supply industrial forgings for certain of our customers in the US, and we are excited about the prospect of making ZKM a part of the Ladish family of metalworking companies," said Kerry L. Woody, president and CEO of Ladish.
"ZKM has the personnel, equipment and cost structure capable of significant growth. This acquisition represents an excellent opportunity for Ladish to establish a manufacturing base in the EU. Approximately 50 percent of Ladish's annual sales serve international markets. ZKM will enable us to expand our participation in these arenas."
