SIFCO (SIF) Acquires GEL industries
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SIFCO Industries, Inc. (AMEX: SIF) announces the acquisition of the business and related assets of GEL industries, Inc. (DBA Quality Aluminum Forge), an aerospace component supplier located in Orange, California. The QAF business is principally known as a supplier of precision forged and machined aerospace components for use on a broad range of both commercial and military aircraft models. QAF is a supplier to both the aerospace OEM and aerospace aftermarket segments. The transaction, which includes essentially all of the operating assets and liabilities of QAF, closed on October 28, 2011. This acquisition enhances SIFCO’s product offering by adding a new metal capability and increasing the company’s finish machining capability in both of its main market segments - aerospace and energy.
The acquisition also continues SIFCO’s move toward a higher commercial content in its revenue base. Under SIFCO’s ownership, substantially all of the management team and employees of the acquired business will continue to serve its customer base.
The acquisition also continues SIFCO’s move toward a higher commercial content in its revenue base. Under SIFCO’s ownership, substantially all of the management team and employees of the acquired business will continue to serve its customer base.
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