13 December 2001
13 December 2001
Kaman has signed an agreement to acquire Plastic Fabricating Company, Inc. (""PlasticFab""), a Wichita, Kansas manufacturer of composite parts and assemblies for aerospace applications.
PlasticFab, a privately held company with estimated sales this year in excess of $14 million, is currently owned by HIG Capital LLC, a private equity investment firm based in Miami, Florida. PlasticFab, founded in 1948, is a leading supplier of custom engineered composites, advanced plastic components and complex assemblies for commercial and military aerospace applications. Its largest customers include Boeing, Bell Helicopter Textron, Sikorsky Aircraft, Lockheed Martin, and Fuji Heavy Industries Ltd. The company employs approximately 180 people at its 150,000-square-foot Wichita facility.
Paul R. Kuhn, president and chief executive officer of Kaman Corp., said, ""This acquisition brings us into one of the largest aerospace manufacturing areas in the United States, and is complementary to our existing composites and metal bonding operations. The acquisition fits well with our overall strategy to grow and diversify our aerospace business. PlasticFab has a solid reputation in the industry for delivering quality products on time, and it has an experienced, dedicated work force. We look forward to their becoming part of the Kaman family."" The transaction is expected to close by the end of the year. Terms are not being disclosed. When the transaction is completed PlasticFab will operate as a separate subsidiary within the aerostructures business unit of Kaman Aerospace Corp.
Boeing has delivered the first of ten 787 Dreamliners to WestJet, marking the start of the airline's global expansion. Having long operated a fleet of Boeing single-aisle jets, WestJet will use the super-efficient, long-range 787-9 Dreamliner to profitably serve new international routes.
The Middlesex production facility of Web Industries’ Aerospace market team has earned accreditation from Nadcap (the National Aerospace and Defense Contractors Accreditation Program) covering the facility’s composite cutting and kitting operations.
Group Rhodes, through its Rhodes Interform business, has developed a revolutionary new process that enables large monocoque components, particularly those produced by super plastic forming (SPF) from very thin material, to more accurately retain their shape on cooling.