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Ameriforge Group Inc. Acquires GLOENCO and Related China Operations

May 2, 2007
Acquisition will expand Ameriforge's power generation and aerospace market capabilities.

Ameriforge Group Inc. announced on May 1 that it has acquired the assets of GLOENCO, a provider of products, services, and supply chain solutions for the power generation and aerospace industries. In addition, Ameriforge acquired the stock of GLOENCO's related China operations: Foshan AF Manufacturing Technology Co., Ltd. and Shanghai AF International Trading Company.

Terms of the transaction were not disclosed.

GLOENCO provides design, machining, welding, testing, assembly, and component repair services to power generation and aerospace customers. The company operates from facilities in Newport, NH; Greenville, SC; Shanghai, China; and Shunde, China.

David Heminger, president and CEO of Ameriforge Group, Inc., said, " The GLOENCO acquisition continues our aggressive growth by broadening our manufacturing base, expanding geographically, and applying our operational competencies to the needs of our key customers. GLOENCO's manufacturing capabilities, global presence, and advanced supply chain management expertise are a great fit with Ameriforge's strategic objectives. "

Rick Thomas, President of GLOENCO, commented on the purchase saying, "We were one of Ameriforge's select group of strategic customers. Through our collaborative working relationship we saw firsthand the potential for the alignment of Ameriforge's superior performance and innovative business approach with GLOENCO's advanced capabilities and strong relationships within the global power generation and aerospace market segment. Access to the Ameriforge infrastructure will allow us to provide an expanded and improved range of products, service, and support to our customers."

Ameriforge provides complete forged product solutions. GLOENCO will continue to operate as an independent company, associated and closely aligned with Ameriforge's Power Generation and Aerospace business segment.