Printer Friendly

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
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 28, 1992
Words:367
Previous Article:YOKOHAMA NAMES NEW VICE PRESIDENTS TO OPERATIONS AND MARKETING POSTS
Next Article:GE CAPITAL FLEET SERVICES TO INTRODUCE NEW FLEET FUELING CARD
Topics:


Related Articles
CORE INDUSTRIES INC ANNOUNCES SALE OF ANILAM
KETEMA REPORTS THIRD QUARTER RESULTS
KETEMA REPORTS FIRST QUARTER RESULTS
KATY INDUSTRIES, INC. ANNOUNCES SALE OF PANHANDLE
CINCINNATI MILACRON COMPLETES EXCHANGE OF $100 MILLION 7-7/8% NOTES
DT INDUSTRIES ACQUIRES MAKER OF HIGH-SPEED ASSEMBLY MACHINES; 6TH ACQUISITION IN PAST YEAR FURTHER EXPANDS CUSTOMER BASE
American Precision Industries Announces Record Third Quarter Results; Net Income Up 45%, Representing 13 Successive Quarters of Improvement
Newcor Completes Sale of its Eonic Division, Announces Quarterly Dividend and Annual Meeting of Shareholders Held
DT Industries, Inc. Explores Acquisition of Irwin Research & Development.
DT Industries Suspends Talks with Irwin Research & Development.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters