HITCO Receives Contract for Globemaster Vapor Barrier Assemblies
LOS ANGELES, Dec. 2 /PRNewswire/ - HITCO CARBON COMPOSITES, INC. (HITCO), an affiliate of the German based SGL Carbon Group (NYSE:SGG), announced today that it has won a four year contract to build Vapor Barrier Assemblies for sixty of Boeing's C-17 Globemaster III transport planes. Delivery will begin in February, 2004.
Construction of this glass sandwiched panel assembly, measuring some twenty-one feet in length and eighteen feet wide is already underway. Actual part fabrication will begin at the Gardena, California facility in December, 2003 upon completion of initial testing and process development.
"Our demonstrated performance in delivering over eighty-five C-17 tailcone and rudder fairing assemblies provided the assurance to Boeing to award yet another large contract to HITCO.," said Paul Pendorf, HITCO President. "In consummating this award, we demonstrate our desire to seek additional C-17 business. We are currently attempting to strengthen our position in this marketplace," Pendorf concluded.
HITCO CARBON COMPOSITES, INC. manufactures advanced composite materials for defense, aerospace and industrial applications. Products range from solid rocket motor nozzle assemblies, aircraft assemblies, wet and dry friction applications such as military aircraft and automobile racing carbon-carbon brakes, automotive torque control assemblies and transmissions, to materials for industrial insulation for the aluminum and steel industries, chemical process industries and petroleum plants among others. Founded in 1922, HITCO continues to be an innovative leader in the advancement of carbon composite technologies. The SGL CARBON GROUP, headquartered in Wiesbaden, Germany is the world's largest producer of carbon and graphite products with approximately 7200 employees. Annual sales in 2002 amounted to 1.1 billion Euros. The Company's business is focused on four areas: Carbon and Graphite (CG), Graphite Specialties (GS), Corrosion Protection (CP), and SGL Technologies (SGL T) which comprises the growth businesses of the company. Divisions of SGL Technologies manufacture products such as high-performance carbon-ceramic brake discs and fuel cell components. Hitco Carbon Composites,Inc. is also part of SGL Technologies and manufactures composite structures, high- temperature materials and thermal insulation.
Important Notice:
This document contains forward-looking statements. These statements reflect the current belief of SGL Carbon's management as well as assumptions made by, and information available to, the SGL Group. Actual future results and trends could differ materially from those set forth in these statements due to various factors. These factors include, among others, changes in economic, political, technical, business and competitive conditions; unforeseeable alterations in electric steel production; changes of interest and exchange rates; price developments; unanticipated developments relating to recently acquired businesses and Group companies; potential liability in connection with existing or future regulations; unforeseen difficulties relating to the investigations by the European antitrust authorities and to the completed investigation by the Canadian and U.S. antitrust authorities and the civil actions related thereto; and other risks and uncertainties, including those detailed in the Company's filings with the U.S. Securities and Exchange Commission. SGL Carbon does not intend to update these forward-looking statements, and does not assume any obligation to do so.
Source: Hitco Carbon Composites, Inc.