FARMINGTON, Conn., 20 Feb. 2012. EDAC Technologies Corp. (NASDAQ:EDAC), a diversified designer, manufacturer, and servicer of precision components for aerospace and industrial applications, has agreed to purchase a 181,000 square-foot manufacturing facility in Plainville, Conn. The company is consolidating operations currently housed in four separate locations into a 15-acre site that formerly housed part of GE Industrial Solutions, a business unit of General Electric Company.
EDAC will relocate to the Plainville site its four facilities located in Farmington, Conn., which include several aerospace product lines, as well as its APEX Machine Tool and EDAC Machinery product lines. Relocation is expected to take place over the next 18 months. EDAC's rotating engine components product line will continue to be based in Newington, Conn., and will not be affected by the relocation.
"The Plainville facility will give us a larger, more flexible, and more cost-efficient platform for growth. It will relieve current capacity constraints and allow us to add state-of-the-art manufacturing equipment to support both our record backlog and future opportunities with our leading aerospace and industrial customers,” says Dominick A. Pagano, EDAC's president and chief executive officer. “In addition to deriving benefits from consolidating our plants, we will be able to further deploy lean processes, cellular manufacturing, and an integrated 'center of excellence' approach to design and production, all of which will improve our efficiency. The combination of expanded production capacity and greater cost effectiveness is essential to our plan to drive further profitable growth."