Shimtech Industries Ltd., based in the U.K., has agreed to acquire Performance Plastics Inc. of San Diego, Calif., for an undisclosed sum.
Founded on composite manufacturing expertise, PPI has been manufacturing and supplying high value, precision-engineered aero structure components and assemblies to major aerospace OEMs for over 35 years. Capabilities include the design and manufacture of autoclave and oven-cured composites, metal/composite bonding, CNC machining, tooling and final assembly of primary and secondary structures. Products manufactured by PPI include aircraft flight control surfaces, radomes, reflectors, doors and access panels, bulkheads, interior panels, and a variety of other precision components and sub-assemblies.
Supporting a broad range of commercial and military aerospace programs for both production build and spares requirements, current PPI customers include Boeing, Lockheed Martin, and Northrop Grumman.
Commenting on the acquisition, Shimtech CEO, Howard Kimberley, says: “With the enhanced resources, additional processes, and technical knowhow that PPI will add to the group, the enlarged Shimtech will be more strongly positioned to bid for larger contracts whilst, also providing the benefits of a single, integrated source of manufacturing and supply to our global customers.”
The acquisition, which will be funded entirely from internal resources, will form a separate Composite Engineered Structures division within Shimtech, alongside the existing Gap Management & Alignment and Sealing & Gasket Solutions divisions. The transaction is expected to complete by the end of October 2013.
Shimtech is a supplier of high performance shim solutions and specialist laminated materials to the global aerospace industry. Shimtech products provide solutions for composite aero structure fabrication and assembly, and for gap management, alignment, and sealing applications when assembling tightly toleranced engineered structures.
Following the acquisition Shimtech will operate from six manufacturing and distribution facilities across North America, the United Kingdom, and the Czech Republic, supplemented by a network of worldwide agents providing in-country customer service.
Source: Shimtech Industries Ltd.