Released on August 14, 2007

Paradigm Precision, Tempe, Ariz., a manufacturer of machined components for the aerospace and industrial gas turbine engine industries, has completed the acquisition of three companies, including metalcaster Eurocast, Tunis, Tunisia.

In addition to Eurocast, a manufacturer of castings for customers such as GE Aviation, Rolls-Royce, Volvo and Snecma, the company also has acquired Smith West, Tempe, Ariz., and Palmer Manufacturing Co., Malden, Mass., as part of the initial steps in Paradigm Precision's strategy to combine and grow multiple machining suppliers into an international player.

Paradigm Precision will integrate the companies and expects to broaden its product offering by closing additional acquisitions over the next 18 months.

A newly-formed company, Paradigm Precision manufactures components with exotic metal alloys, close tolerances, wide diameters and 5-axis milling. Customers include three of the four largest gas turbine engine manufacturers worldwide, who use the components in a diversified mix of power plants for commercial, business and defense aircraft.

“Smith West, Palmer and Eurocast are leaders in their segments, each having developed outstanding capability in the manufacture of very complex gas turbine engine and accessory components,” said Mike Harris, chairman and chief executive officer of Paradigm Precision. “Their capabilities are also complimentary…with approximately 400 employees, a combined 200,000 sq. ft. of manufacturing space and an international customer base that includes General Electric, Volvo, Smiths Aerospace, Solar Turbine, Honeywell and Rolls Royce.”

Smith West and Palmer both are machining-focused manufacturers dealing in jet engine housings, cases, shroud segments, half rings and combustion liners, as well as flange and thin wall rings, torque tubes, liners and nozzles, rotating, disks, seals, shafts and spools, casings, frames and housings.