DALLAS - Friday, December 23rd 2016 [ME NewsWire](BUSINESS WIRE)-- Advanced Integration Technology (“AIT”) announced today an investment in Nova-Tech Engineering (“Nova-Tech”).
Based in Lynnwood, WA, Nova-Tech is a designer and integrator of critical assembly automation, materials handling and friction stir welding equipment and tooling for the aerospace and space launch industries. Nova-Tech’s talented engineering and executive team will join the AIT family while continuing to operate as a distinct business line and brand led by Nova-Tech’s CEO, William B. (“Benny”) Teal.
“In our industry, Nova-Tech is synonymous with engineering excellence and dedicated customer service,” said Ed Chalupa, AIT’s Chairman and CEO. “Benny and his team have established a culture that perfectly exemplifies the entrepreneurship and innovation that has always driven the aerospace industry forward. Nova-Tech’s strong presence in international markets and adjacent sectors like space launch is particularly unique in our industry.”
“The adoption of automation in aerospace is accelerating, just as the automation supply base is consolidating offshore,” said Teal. “It’s exciting to have a partner in this environment and to be a part of a platform with this scale of technology and engineering talent.”
AIT’s investment in Nova-Tech represents its second transaction in the aerospace automation sector following the purchase earlier this month of KUKA Systems Aerospace North America (as recently reorganized) in a carve-out transaction from KUKA Systems North America LLC.
The financial terms of the transaction were not disclosed.
About AIT
AIT is the world's largest provider of automation, factory integration and tooling solutions dedicated to the global aerospace and defense industries. From its headquarters in Plano, Texas, AIT designs, manufactures and installs automated tooling and equipment for the assembly of aerospace structures. AIT serves the world’s largest and most technologically advanced aerospace OEMs and Tier 1 suppliers, including Boeing, Airbus, Lockheed Martin, Northrop Grumman, Spirit AeroSystems, Triumph and Bombardier. AIT has facilities in the United States, Canada, Spain and Sweden.
About Nova-Tech
Nova-Tech is in its forty-eighth year and is well established as a premier supplier of manufacturing solutions to the worldwide aerospace industry. Headquartered in Lynnwood, Washington, it also has offices in South Carolina, Alabama, Germany, Brazil and the U.K. The company serves all the major commercial aircraft manufacturers, and is also engaged with defense work and space launch vehicles.
Learn more at www.aint.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161222005401/en/
Contacts
Advanced Integration Technology
Susan Hardaway, 1 972-543-6675
shardaway@aint.com
Permalink: http://me-newswire.net/news/19272/en
No comments:
Post a Comment