Released on August 13, 2008

Ladish Co. Inc., Cudahy, Wis., has entered into an agreement to acquire, via a merger, aerospace forging company Chen-Tech Industries Inc., Irvine, Calif.

Ladish produces components for the aerospace and general industrial markets through its investment casting plant Pacific Cast Technologies, Albany, Ore., in addition to two machine shops and two forging operations. The company will merge its capabilities with the Chen-Tech forging plant when the transaction closes in the third quarter of 2008.

Although the final terms of the proposed transaction have not been disclosed, the agreement sets the merger value of Chen-Tech at approximately $59 million, which will be paid in a combination of cash and Ladish common stock.

“Chen-Tech, with projected 2008 sales of about $50 million, is a highly regarded manufacturer of jet engine forgings for mutual customers such as General Electric,” said Kerry Woody, Ladish president and CEO. “Chen-Tech's expertise in forging nickel-based and titanium components is a great complement to Ladish’s expertise in forging larger engine components.”