LMI Aerospace Acquires Integrated Technologies
In 2008, sales of Intec increased to $7 million, and projected sales in 2009 are in the $8 million to $9 million range. The acquisition is expected to be accretive to LMI earnings in 2009.
"LMI has been committed to providing composite material products to our customers. We believe the acquisition of Intec, together with other initiatives we are taking to provide significant composite assembly and component production, will allow us to broaden our customer offerings and to use our skilled workforce in both our Aerostructures and Engineering Services divisions to transition to production of non-metallic products," says Ronald S. Saks, president and chief executive officer of LMI.