Key Developments For Ladish Co., Inc.
Ladish Co., Inc. (LDSH.O) (Nasdaq)
Ladish Co., Inc. Announces Retirement Of Kerry L. Woody As President And CEO
Ladish Co., Inc. announced that Ladish President and Chief Executive Officer (CEO) Kerry L. Woody is retiring. The Board of Directors has named Gary J. Vroman, to the position of President and CEO and a Director of Ladish succeeding Mr. Woody.
Ladish Co., Inc.'s ZKM Forging Wins Long-Term Agreement From Goodrich Landing Gear
ZKM Forging, a wholly owned subsidiary of Ladish Co., Inc. announced that it has received new orders from Goodrich Corporation's Landing Gear business under a five-year, long-term agreement. The orders are for the first of more than 20 landing gear components destined for service on large commercial aircraft. The orders call for the forging and shipment of production quantities commencing in December 2008. The components will be produced at ZKM's facility in Stalowa Wola, Poland.
Ladish Co., Inc. Completes Merger With Chen-Tech Industries
Ladish Co., Inc. announced that it completed the merger of Chen-Tech Industries, Inc. (Chen-Tech) with a wholly owned subsidiary of the Company on September 4, 2008. The merger, paid in a combination of cash and Company common stock, is expected to be accretive to 2008 earnings.
Ladish Co., Inc. Announces Long Term Financing
Ladish Co., Inc. announced that it has secured $50 million of long-term financing through the private placement of senior notes with a number of institutional investors. The senior notes bear interest at a rate of 6.41% per annum and have a maturity date of September 2, 2015. U.S. Bank and SPP Capital Partners, LLC acted as advisors to the Company on the private placement.
Ladish Co., Inc. To Merge With Chen-Tech Industries
Ladish Co., Inc. announced that it has entered into an agreement to acquire via a merger Chen-Tech Industries, Inc., located in Irvine, California, which is a forger of jet engine components. The closing of the transaction is anticipated to occur in the third quarter of 2008. Although the final terms of the proposed transaction have not been disclosed, the agreement contemplates that the merger value of Chen-Tech will be approximately $59 million, which will be paid in a combination of cash and Ladish common stock.
