KETEMA INC. ANNOUNCES ACQUISITION OF ALDAN INDUSTRIAL MACHINING INC.
DENVER, Dec. 28 /PRNewswire/ -- Ketema Inc. (AMEX: KTM) announced today the acquisition of Aldan Industrial Machining Inc. of Phoenix, for cash and notes which aggregate to less than $10 million. The acquisition of Aldan is consistent with Ketema's strategy of acquiring businesses and increasing their value by taking advantage of synergistic relationships with existing businesses and by investing new capital. Aldan sells primarily to the domestic aerospace industry and end- users of high-tech, high-precision machined components. While Aldan focuses primarily on the aerospace industry, it has developed and manufactured components for a variety of industries, from hydro- technology to innovative die-cuts for the packaging industry. In the aerospace market, Aldan has concentrated its efforts on designing special-use bearings, including slot-loaded bearings, swaged bearings, fractured bearings, lined bearings, rod ends and other sophisticated aerospace applications. In the past few months, Aldan has also developed a line of aerospace fittings to compete in the upper end of this large, complex market. Of special note is the new method Aldan has developed for machining ion nitrided parts (ion nitriding is a hardening process for surfaces exposed to wear). This method is a low-stress process that is oriented specifically toward applying ion nitriding to nickel-based alloys. Few, if any, companies have developed a method that produces the quality or tolerances achieved by Aldan. In addition, Aldan has developed processes for high production machining of HVOF tungsten carbide-coated surfaces. Albert F. Young, the president and founder of Aldan Industrial Machining Inc. will continue in his role as president and chief executive officer of this wholly owned subsidiary. Young has more than 30 years of experience in all facets of industrial machining, having held a number of positions of increasing responsibility over the years with a variety of Fortune 500 companies. Ketema Inc., with headquarters in Denver, is a diversified industrial manufacturer of machinery, equipment, components and advanced materials, and provider of design services for a broad base of customers in the aerospace, process, computer, utility and construction industries. -0- 12/28/92 /CONTACT: Claire R. DeLabar of Ketema, 303-329-7188/ (KTM)
CO: Ketema Inc.; Aldan Industrial Machining Inc. ST: Colorado IN: MAC SU: TNM
BP-JB -- LA025 -- 0129 12/28/92 15:42 EST
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|Date:||Dec 28, 1992|
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