Two New Equipment Purchases Advance HITCO Capital Expenditure Plan
LOS ANGELES - HITCO CARBON COMPOSITES, INC (HITCO), a subsidiary of the German based SGL Group -- The Carbon Group -- announced today that it has ordered a Bertsche P5-Milling machine designed for high speed, automated performance in a demand-driven manufacturing environment. This machine is used in the production of entire families of large-scale structural parts. It is comprised of a Five Axis CNC Milling Machine with Hydraulic, Pneumatic, Lubrication, Dust Collection and Power Door Systems, and Full Machine Enclosure. HITCO intends to use this equipment for drilling and finishing composite floor beams for new commercial aircraft programs. In November 2007, HITCO placed an order for a second Cincinnati Charger(TM) Automated Tape Lay-Up Machine (ATL) equipped with a state-of-the-art, contour tape head. This equipment improves HITCO's ability to manufacture a wide array of composite parts ranging from wing skins and fuselage panels to horizontal stabilizers for commercial and military aircraft. This second machine complements the first ATL purchased earlier in 2007. "Since the April 2007 announcement of our Capital Investment Plan, beginning with the purchase of our first Automated Tape Lay-Up Machine and other facility upgrades at our Gardena, California site, HITCO has received positive feedback from the market and our key customers. This has led to strong interest among potential customers for highly engineered composite parts that utilize automated fabrication processes," said Edward G. Carson, HITCO Chief Operating Officer. "We look forward to servicing our customers beginning in 2008, with highly engineered, excellent quality composite components delivered to our customers on time," Carson concluded. HITCO Carbon Composites, Inc. founded in 1922, manufactures advanced composite materials primarily for aerospace and defense applications, and is a part of SGL Group's Business Unit Carbon Fibers and Composites (CFC). HITCO is 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.
