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Bodycote, a provider of heat treatment and specialist thermal processing services, seeks to expand its Hot Isostatic Pressing (HIP) footprint and scale in the U.S. and announced the acquisition of Lake City HT.
Based in Warsaw, Indiana, Lake City HT is a HIP and vacuum heat treatment business primarily supplying the orthopedic implant market.
Another facility was acquired that has a primary focus on Civil Aerospace, Defence and Energy markets.
Stephen Harris, Group Chief Executive of Bodycote plc, said, “These investments are an important and exciting enabler of our strategy to further enhance and grow our Specialist Technologies businesses. In addition, they will also expand our footprint in Aerospace and Medical heat treatment on the West Coast and in Indiana in the US. The acquisitions will enhance group margins, are accretive to earnings per share and allow us to further capitalise on the structural growth opportunities in the Space, Civil Aerospace and Medical markets.”
Source: Bodycote
