re: call from michael otten ..zo po mo This IMG company Platinum...

re: call from michael otten ..zo po mo This IMG company Platinum Equity has just acquired would have good synergies with TZL/AGT and PDT down the track. (see below)


note especially the aerospace and medical connections.

cheers
tm


Portland, Ore.'s Platinum Equity Acquires ESCO Corporation’s Integrated Manufacturing Group (9195)

The new business will be renamed, and details about the new name and brand image will be announced as the transition process unfolds.

Platinum Equity and ESCO Corporation have announced that Platinum has acquired ESCO’s Integrated Manufacturing Group (“IMG”), a premier manufacturer and vertical integrator of technically rich components, assemblies and replacement parts for outsourced manufacturing and machining.

The acquisition was completed on December 1, 2006, and a transition is now underway to separate IMG from ESCO and establish it as a standalone company. The new business will be renamed, and details about the new name and brand image will be announced as the transition process unfolds. Terms of the transaction were not disclosed.

ESCO executives said they divested the IMG business in order to focus on other core units, including the company’s Engineered Products and Turbine Technologies Groups.

“ESCO’s long-term vision is aimed at continued, global growth in the mining, construction and aerospace markets,” said Steven D. Pratt, ESCO Chairman and CEO. “This sale allows us to aggressively pursue these markets, while placing IMG with a firm for which integrated manufacturing is part of a long-term priority.”

Platinum Equity executives described IMG as a strong platform for future growth.

“We are very excited about the potential of this business and are very pleased to add IMG to our portfolio of operating companies,” said Phil Norment, President of Portfolio Operations for Platinum. “The group has a strong management team and a really outstanding customer service offering, and we believe they will be very successful as a standalone company.”

ESCO Integrated Manufacturing Group is a manufacturing service company that provides highly machined components, complex assemblies and replacement parts for a diverse array of industrial markets. The company leverages its engineering and technical skills to create innovative, cost-savings solutions for customers’ toughest manufacturing challenges.

IMG’s customers include companies in the aerospace, semiconductor production equipment, medical and pharmaceutical equipment, government, industrial gas turbine, flat panel display manufacturing equipment and instrumentation markets