PSI Acquires AEC-Able Engineering Co. Inc.CITY OF COMMERCE, Calif.--(BUSINESS WIRE)--Aug. 17, 1999-- AEC-Able Engineering Co. Inc. (ABLE), a world leader in the design and manufacture of deployable booms, masts A mast is a man-made support structure, commonly used on sailing ships as support for sails, or on land as radio masts and towers used to support telecommunication equipment such as radio antennas ("aerials" in the UK). This is a list of masts 300 meters or higher. and antennas plus a full line of solar arrays, has been acquired by Pressure Systems Inc. (PSI). PSI and ABLE are a good match because of their combined innovative designs and 100% on-orbit success record of product quality. ABLE will continue operations in its current facilities in Goleta, Calif., doing business as ABLE Engineering Inc., a Division of Pressure Systems Inc. Max D. Benton, PE, president of ABLE and co-founder with Robert F. Crawford, will continue in his role as president. "The ABLE Team is excited about working closely with its sister divisions in the PSI Group to provide a broader range of integrated products for the space industry," said Benton. PSI is the leading independent designer and manufacturer of titanium titanium (tītā`nēəm, tĭ–) [from Titan], metallic chemical element; symbol Ti; at. no. 22; at. wt. 47.88; m.p. 1,675°C;; b.p. 3,260°C;; sp. gr. 4.54 at 20°C;; valence +2, +3, or +4. propellant pro·pel·lant also pro·pel·lent n. 1. Something, such as an explosive charge or a rocket fuel, that propels or provides thrust. 2. and pressurant tanks for the space industry. The PSI group also includes Programmed Composites Inc., Anaheim, Calif., a leading producer of advanced components and structural assemblies for spacecraft spacecraft Vehicle designed to operate, with or without a crew, in a controlled flight pattern above Earth's lower atmosphere. Since streamlining is not needed in the high vacuum of this environment, a spacecraft's shape is designed according to its mission (see , and Dynatherm Corp. Inc., Hunt Valley, Md., a top supplier of space-related heat pipes and thermal management systems. Alex Roberts, president and chief executive officer of PSI, said: "We are pleased with the addition of ABLE to the PSI Group. We look forward to supporting the continued growth of ABLE and expanding its operations in the Goleta area." Roberts also indicated that PSI would be seeking further acquisition opportunities in the spacecraft components industry. The principal owner of PSI, Windward wind·ward adj. 1. Of or moving toward the quarter from which the wind blows. 2. Of or on the side exposed to the wind or to prevailing winds. adv. In a direction from which the wind blows; against the wind. Capital Partners, is a privately owned, New York-based investment firm whose limited partners include Metropolitan Life Insurance Co. and Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. . |
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