Ladish Announces Comprehensive Cudahy Forging Modernization Plan

Cudahy, WI—Ladish Co., Inc. (www.ladishco.com) (Nasdaq: LDSH) announced today that the Board of Directors has unanimously approved a comprehensive four-year, $75-million capital investment plan for the Cudahy, Wisconsin forging operation. Committed expenditures will advance core metalworking competencies and improve cost effectiveness through facility modernization, new equipment, and process improvements.

"Nearly every airframe and jet engine manufacturer worldwide uses Ladish forgings in their products," says Kerry Woody, President and CEO of Ladish. "The outlook for aerospace forgings is strong, and our expenditures over the course of the next four years are targeted to take advantage of opportunities in both commercial and military markets. We are confident this modernization plan will significantly improve our cost competitiveness, allowing us to meet customer cost challenges as well as satisfy shareholder expectations for earnings-per-share growth."

In addition to the Cudahy Forging operation, Ladish also owns Pacific Cast Technologies, a titanium investment casting business in Albany, Oregon, and Stowe Machine, a precision machining business in Windsor, Connecticut. Last year the company committed to an $11 million expansion to double capacity at Pacific Cast Technologies, and the year before that expanded Stowe Machine by more than 40%. "We are excited about the prospects for continued sales growth throughout the Ladish family of aerospace, metalworking companies," Woody says. "Our businesses provide technically complex, highly engineered product to an industry which demands the highest quality from its supply base. This Cudahy modernization will complement technology advances already completed over the last several months."

Cudahy Forging activity in the area of technology includes the development of a "Super Cooler," a proprietary high-velocity quenching technology for rotating jet engine parts, which is patent pending. New equipment includes an aluminum heat-treatment facility, featuring process controls designed to meet stringent aerospace requirements for temperature uniformity and quench-transfer times.

"Our customers demand better solutions, our shareholders expect improved value in their investment, and our employees are committed to continuous improvement," Woody says. "This modernization plan will benefit all stakeholders, and ensure our future as a preferred supplier to the world’s finest aerospace industries."

Ladish Co., Inc., is a family of precision metalworking companies supplying forging, investment-casting, machining and tool-making products and services to original equipment manufacturers worldwide. Ladish is headquartered in Cudahy, Wisconsin with operations in Wisconsin, Oregon and Connecticut. Ladish common stock trades on Nasdaq under the symbol LDSH.

This release includes forward-looking statements that are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected in them. These risks and uncertainties include, but are not limited to, anticipated slowdowns in the company's major markets, the impact of competition, the effectiveness of operational changes expected to increase efficiency and productivity, worldwide economic and political conditions and the effect of foreign currency fluctuations.