Montana Tech Components AG buys Universal Alloy Corporation
Menziken, March 5, 2008 - Montana Tech Components AG bought the American Universal Alloy Corporation from the Alu Menziken Group. The business units Aerospace Europe and Industrial Components will be organizationally clearly separated.
In November 2007 the Supervisory Board of Alu Menziken Holding AG decided to sell the American subsidiary Universal Alloy Corporation (UAC) to MTC US Corp, a company of Montana Tech Components AG. The management under CEO John Ball that has been very successful in the past will be maintained. This step became necessary to finance the needed investments of Alu Menziken Extrusion AG in Switzerland of about CHF 65 million in the next few years. Additionally the total debt relief of the Swiss location shall be achieved by this transaction.
UAC supplies aircraft manufacturers and their subcontractors worldwide. UAC has served the aircraft industry for over four decades with quality hard alloy aluminium extrusions and guarantees its customers first-class services anywhere around the world, providing fully-integrated operations with mills in Anaheim, California and Canton, Georgia.