15 October 2013
15 October 2013
Shimtech has agreed to acquire Performance Plastics (PPI) for an undisclosed sum.
The company say PPI has been manufacturing and supplying high value, precision-engineered aero structure components and assemblies to major aerospace OEMs for over thirty-five years.
Shimtech states its capabilities include the design and manufacture of autoclave and oven-cured composites, metal/composite bonding, CNC machining, tooling and final assembly of primary and secondary structures. Products manufactured by PPI include aircraft flight control surfaces, radomes, reflectors, doors and access panels, bulkheads, interior panels and a variety of other precision components and sub-assemblies.
Howard Kimberely, Shimtech CEO, commented, “We are absolutely delighted to be able to acquire a business of the quality, capability and stature of PPI. In addition to broadening our manufacturing capabilities in advanced, lightweight materials, and extending our business into high growth composite fabrication and integrated metallic and composite assemblies, PPI also provides considerable product synergy with our existing operations.
“With the enhanced resources, additional processes and technical knowhow that PPI will add to the Group, the enlarged Shimtech will be more strongly positioned to bid for larger contracts whilst, also providing the benefits of a single, integrated source of manufacturing and supply to our global customers.”
Shimtech states the acquisition, which will be funded entirely from internal resources, will form a separate Composite Engineered Structures division within Shimtech, alongside the existing Gap Management & Alignment and Sealing & Gasket Solutions divisions. The transaction is expected to complete by the end of October 2013.
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