LMI Aerospace buys Integrated Technologies

Integrated Technologies provides advanced materials testing, manufacturing and design services, primarily working with organic matrix composites, ceramics, metal matrix composites and metal.

LMI Aerospace Inc. (St. Louis, Mo.), a provider of design engineering services, structural assemblies, kits and components to the aerospace, defense and technology industries, has acquired Integrated Technologies Inc. ("Intec," Everett, Wash.), a provider of advanced materials testing, manufacturing and design services to the aerospace, defense and transportation industries. Intec's primary business is designed to support composite testing, manufacturing and research, by analyzing new and existing materials including organic matrix composites, ceramics, metal matrix composites and metal.

Founded in 1989, Intec employs 65 engineers, technicians and supporting staff who use emergent material and technology to reduce customer manufacturing costs, shorten product development cycles, and improve structural durability and product performance. In 2008, sales of Intec increased to $7 million, and projected sales for 2009 are $8 million to $9 million. The acquisition is expected to be accretive to LMI earnings in 2009.

"LMI has been committed to providing composite material products to our customers. We believe the acquisition of Intec, together with other initiatives we are taking to provide significant composite assembly and component production, will allow us to broaden our customer offerings and to use our skilled workforce in both our Aerostructures and Engineering Services divisions to transition to production of non-metallic products," said Ronald S. Saks, president and CEO of LMI. "Our Mukilteo-based CTCE group [Composite Technology Center of Excellence] in our D3 Engineering Services operation and our Auburn, Wash., sheet metal and assembly plant from our Aerostructures division will actively collaborate with Intec to offer more advanced products, as well as introduce advanced lean manufacturing concepts into the Intec manufacturing business. Intec's senior management group is expected to play a large part in assisting LMI in developing and acquiring added composite manufacturing capability, which we believe will occur over the next six months," Saks added.

LMI Aerospace Inc., through its Aerostructures division, assembles, kits, fabricates, machines, finishes and integrates formed, close-tolerance aluminum and specialty alloy components and sheet-metal products, primarily for large commercial, corporate and military aircraft.