April 2, 2003
Metal Improvement Company Acquires Six Coating Application Facilities
The Metal Improvement Company (“MIC”), a wholly owned subsidiary of the Curtiss-Wright Corporation, announced the acquisition of the assets of six USA E/M Engineered Coatings Solutions facilities.
The six E/M Coating application facilities have a total of 237,000 square feet and approximately 278 employees. They are strategically located across the USA in Chicago IL; Detroit MI; Minneapolis MN; Hartford CT; and North Hollywood and Chatsworth, CA. The facilities will henceforth be doing business as the “E/M Coating Services” Division of the Metal Improvement Company.
Taken all together, E/M Coating Services Group constitutes the largest provider of solid film lubricant coatings in North America. Each facility has the capability of applying over 1,100 different coatings to impart lubrication, corrosion resistance, and certain cosmetic and dielectric properties to selected components. The coatings are used in a broad range of products and industries whenever conventional wet lubricants provide insufficient protection due to high temperatures, extreme loads, corrosion, wear, chemical corrosion or other adverse operating conditions.
E/M Coating Services supports a diverse customer base including the aerospace, automotive, electronics, industrial, medical, military and semi-conductor markets. In 2002, automotive (35% total sales), general industrial (26%) and aerospace (25%) markets generated the majority of the Group’s revenues.
All facilities have extensive equipment, procedures and programs in place to handle solid, water and air discharges in compliance with local and state environmental regulations. The facilities also have key certifications including ISO 9000, ISO 9002, QS 9000, FAA and ATF.
Commenting on the acquisition, Martin Benante, Chairman and CEO of Curtiss-Wright, stated, “This acquisition advances the strategic objectives of our Metal Treatment business segment by diversifying our capabilities beyond traditional shot-peening services. It provides a major opportunity to gain an immediate and significant foothold in the outsourced specialty coating service market segment with a large sales platform and multiple plant locations.”
Metal Improvement Company, headquartered in Paramus, NJ, is a recognized worldwide leader in providing outsourced shot-peening, shot-peen forming, heat treating and specialty industrial coatings. These metal treatment services are provided to the aerospace, defense, automotive, petrochemical, agricultural equipment, power generation, medical and metalworking industries. Operations are conducted through a network of 51 service facilities located in North America and Europe. More information on Metal Improvement Company can be found on the internet at www.metalimprovement.com.