HBD Industries Acquires Precision Metal Products, Significantly Expanding Closed Die Forging Offerings

May 9, 2007 (Dublin, OH and El Cajon, CA) - HBD Industries Acquires Precision Metal Products, Significantly Expanding Closed Die Forging Offerings

HBD Industries, Inc. ("HBD") is pleased to announce the acquisition of the business and assets of Precision Metal Products, Inc. ("PMP") to expand its closed die forgings offerings. Precision Metal Products, located in El Cajon, CA (outside San Diego), is a leading provider of net and near-net shape forgings from high performance materials. In combination with California Drop Forge, HBD now offers a wide range of sizes, shapes, forging technologies, machining, and pre- and post-forging operations and services for titanium, cobalt-chrome-molybdenum, stainless steel, waspalloy, inconel and other exotic metals. Cronus Partners LLC acted as the exclusive financial advisor to PMP.

Precision Metal Products engages in the engineering, production and marketing of close-tolerance forged and precision-machined components for various load-bearing and fatigue-resisting applications in select, high-growth markets. For over 40 years, PMP has delivered specialized value and responsiveness to aerospace and defense contractors and OEMs for military applications, and to orthopedic device OEMs for hip, knee, shoulder and elbow implants and related surgical instruments. PMP offers customers access to a unique combination of advanced forging capabilities through 23 major forging machines (including mechanical, hydraulic, high-velocity counter-blow, and screw presses); precision machining (through 3-, 4- and 5-axis CNC machines); comprehensive secondary processes (including on-site chemical milling); and innovative tooling and metallurgical resources.

PMP's Chairman and CEO, James Matarese, said, "I am proud to have led PMP's growth and success for the last 39 years, and equally proud of our employees' focus and continual ability to create and deliver high quality components and value for our customers. I am equally excited about PMP's continued future success as part of the HBD family. HBD is an ideal strategic acquirer to continue the growth and development of PMP."

Randy Greely, HBD's Chairman and CEO, said, "We are very excited to add PMP to HBD's family. Jim Matarese has created an exceptional company with outstanding capabilities and employees. PMP's reputation, experience and resources, coupled with our existing array of specialized forging services and support, provide customers with an exceptional opportunity to drive down costs and improve value. With the addition of PMP, HBD's focus on providing high quality, high-value industrial and specialty products continues to expand. We see significant growth potential within PMP and through its sister relationship with California Drop Forge. HBD's newly expanded closed die forgings group offers customers a dynamic suite of enhanced capabilities, products and services."

California Drop Forge (Los Angeles, CA) is a leading producer of closed-die forgings for the aerospace, commercial and medical industries ranging in weight from less than one pound to 600 lbs. With six steam hammers, ranging from 2,500 lbs. to 35,000 lbs., and two forge presses, CDF manufactures aircraft structural parts, components for landing gear, air management, flight control and engine propulsion systems, and medical centrifuges.

HBD Industries, Inc. (Dublin, OH) is a manufacturer of industrial products sold to leading distributors, OEMs and end users around the world. In addition to Precision Metal Products and California Drop Forge, HBD's family of companies includes HBD/Thermoid and Carolina Rubber Rolls (industrial rubber products); Peerless Electric, Ohio Electric Motors, Powertec Industrial Motors, Winsmith, and Perfection Gear (motors and gearing); Ohio Magnetics (magnetic materials handling); Peerless Blowers (ventilation and air moving equipment); and Hydro Carbide (tungsten carbide cutting tools and pre-forms).

For more information contact: Mark Riggs, GWA Communications, Inc. 5200 Upper Metro Place,
Suite 110, Dublin, OH 43017 Telephone: 614-526-7015 Fax: 614-526-7010E-mail: mriggs@hbdeo.com

More from Materials

All Topics