Cudahy-based Ladish Co. Inc. has acquired Aerex Manufacturing Inc., a South Windsor, Conn. precision machining manufacturer that serves the aerospace and commercial airline industries, for about $14 million cash and stock.
"The acquisition of Aerex, with projected 2008 sales of approximately $15 million, represents an excellent addition to our existing value-added, precision-machining capabilities," said Kerry L. Woody, President and CEO of Ladish. "Ladish and Aerex serve mutual customers in the aerospace supply chain and we have had a long-term relationship with Aerex, based on their providing finish machining of titanium forgings produced by Ladish Forging."
Aerex’s founder Armund Ex and its management team will continue to lead the company’s operations.
Ladish is a producer of highly engineered technically advanced components for the jet engine, aerospace and general industrial markets. In addition to its headquarters and operations in Cudahy, it has plants in Wisconsin, Connecticut, Oregon and Poland. Ladish is traded on the NASDAQ index under the symbol LDSH.