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Ameriforge Acquiring Superior Holdings Inc.

Dec. 3, 2007
Expands services, capabilities to oil and gas markets

December 3, 2007 — Ameriforge Group Inc. has agreed to acquire Superior Holdings Inc. and its subsidiaries, SMI Manufacturing Inc. and PK Manufacturing Inc., for an undisclosed price. The two subsidiaries manufacture and process components sold to the oil and gas drilling industries: SMI performs machining, welding, and weld-overlay services; and PK offers advanced welding processes for long tubular products and advanced alloys.

Ameriforge, based in Houston, designs and manufactures forgings for the oil and gas equipment market, as well as aircraft and aerospace component manufacturers and power-generation equipment and systems companies.

According to Ameriforge president and CEO Dave Heminger said the the combination of the two groups would improve Ameriforge's presence into the oil and gas markets. "Additionally, we will gain immediate access to a strategically important group of customers and benefit from the additional capacity provided by an in-place operating organization and equipment," according to Heminger.

Jerry Skweres, president of Superior, explained that customers are driving the company to supply "fully integrated value solutions. Our strategy, and that of Ameriforge, has been to provide our customers with fully integrated solutions," Skweres stated. "By combining our businesses, we can accelerate development of the best that both companies have to offer. Additionally, SMI, PK, and their customers will benefit from the technology developed at the Ameriforge Advanced Technology Center, gain access to its materials, forged product solutions, and an overall access to greater synergy and financial clout from Ameriforge."