In announcing this agreement, Peter Hoffman, President of HITCO Carbon Composites said: "HITCO took delivery of its Viper(R) 6000 Automated Fiber Placement (AFP) machine in October 2008 from Cincinnati MAG. This AFP equipment complements our existing Automated Tape Laying (ATL) capacity that will provide commercial and military customers automated solutions to their growing composite needs for major aerostructure components. We will utilize our AFP equipment for fabricating the complex composite Aft Fuselage II work package."
"Together, HITCO and Denel Saab will offer 'Best Value' because of our unique combination of attributes including: time to market, schedule adherence, quality and reduced risk," said Hoffman.
Lana Kinley, CEO of Denel Saab Aerostructures also commented: "We at Denel Saab are pleased to have HITCO on board offering advanced manufacturing solutions for the Embraer C-390 program. Like them, we have invested in major plant upgrades and capital equipment. By entering into this relationship, we offer a great value-add to our customers."
HITCO, supported by its parent SGL Group, has developed enhanced capabilities for manufacturing composites for the aerospace industry. The company continues to execute its plan for expanding and upgrading its production facilities to accommodate even more modern production equipment. The recent plant investments and enhanced automated manufacturing capabilities enable the company to serve as a value-added supplier and partner to its OEM and Tier I customers, thus enabling HITCO to fulfill its mission of becoming a world-class Tier II supplier to the aerospace industry.
About Denel Saab
Denel Saab, located in Kempton Park, Republic of South Africa, is a recently merged subsidiary of the South African, State-owned aerospace and defense manufacturer Denel and Saab AB, of Sweden for the purpose of manufacturing aerostructures. The merger was announced mid-2006, in Stockholm, Sweden.
About HITCO Carbon Composites, Inc.
HITCO Carbon Composites, Inc. was founded in 1922 and manufactures advanced composite materials primarily for aerospace and defense applications. HITCO continues to be an innovative leader in the advancement of carbon composite technologies and continues to strategically focus within the SGL Group on new projects for aerospace/aircraft and defense applications.
About SGL Group - The Carbon Company
The SGL Group is one of the world's leading manufacturers of carbon-based products. It has a comprehensive portfolio ranging from carbon and graphite products to carbon fibers and composites. SGL Group's core competencies are its expertise in high-temperature technology as well as its applications and engineering know-how gained over many years. These competencies enable the Company to make full use of its broad material base. SGL Group's carbon-based materials combine several unique properties such as electrical and thermal conductivity, heat and corrosion resistance as well as high mechanical strength combined with low weight. Due to the paradigm shift in the use of materials as a result of the worldwide shortage of energy and raw materials, there is a growing demand for SGL Group's high-performance materials and products from an increasing number of industries. Carbon and graphite products are used whenever other materials such as steel, aluminum, copper, plastics, wood etc. fail due to their limited properties. Products from the SGL Group are used predominantly in the steel, aluminum, automotive, chemical and glass/ceramics industries. However, manufacturers in the semiconductor, battery, solar/wind energy, environmental protection, aerospace and defense industries as well as in the nuclear energy industry also figure among the Company's customers.
With 40 production sites in Europe, North America and Asia as well as a service network covering more than 100 countries, the SGL Group is a company with a global presence. In 2007, the Company's workforce of around 5,900 generated sales of euro 1.4 billion. The Company's head office is located in Wiesbaden/Germany.
This press release contains statements on future developments that are based on currently available information and that involve risks and uncertainties that could lead to actual results deviating from these forward-looking statements. The statements on future developments are not to be understood as guarantees. The future developments and events are dependent on a number of factors: they include various risks and unanticipated circumstances and are based on assumptions that may not be correct. These risks and uncertainties include, for example, unforeseeable changes in political, economic and business conditions, particularly in the area of electrosteel production, the competitive situation, interest rate and currency developments, technological developments and other risks and unanticipated circumstances. We see other risks in price developments, unexpected developments relating to acquired and consolidated companies and in the ongoing cost optimization programs. SGL Group does not intend to update these forward-looking statements.
Web site: http://www.hitco.com/