Cade Industries Inc. wins $6.3 million in new orders.LANSING, Mich.--(BUSINESS WIRE)--Oct. 1, 1996--Cade Industries Inc. (NASDAQ/NM:CADE) announced today that it has gained $6.3 million in new orders scheduled for delivery through the remainder of 1996, 1997, and 1998. With the addition of these orders, Cade's backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. totals $34.1 million. Cade's San Diego-based unit, Cade Composites Inc., will produce components for General Electric's GE90 engine and McDonnell Douglas' C-17 Globemaster. The agreements also provide for options to purchase an additional $10.1 million in components in 1998 and 1999. "The strengthening market conditions in our industry are resulting in excellent growth opportunities for Cade Industries over the next several years," said Richard A. Lund, president. Cade Industries designs, develops, manufactures, overhauls and repairs high technology composite components for the aerospace, air transport, and specialty industries. The company's operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. are located in Lansing; San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. ; and Grand Prairie, Texas This article is about the city in Texas. For the city in Alberta, Canada, see Grande Prairie, Alberta. Grand Prairie is a city in Dallas County (USA), with a significant overlap into Tarrant County, and a minor overlap into Ellis County. (Dallas). For more information or to receive a copy of this press release, please call our News on Demand Service at 1-800-311-4601 or you can access the information via the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the at http://www.businesswire.com/cnn/cade.htm. CONTACT: Cade Industries Inc., Lansing S.A. Mull or E.B. Stephens, 517/394-1333 |
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