SIFCO Industries, Inc. Celebrates its Centennial
CLEVELAND--(BUSINESS WIRE)-- SIFCO Industries, Inc. (NYSE MKT: SIF) ("SIFCO") is commemorating the 100th anniversary of its founding as the Steel Improvement Company, originally incorporated in 1913. To mark the occasion, the Company will host a Centennial Celebration at its corporate headquarters in Cleveland on May 16.
One hundred years ago, five entrepreneurs formed the Steel Improvement Company to enhance the physical properties of steel during the manufacturing process. Throughout World War I, the Company produced a variety of forgings necessary for trucks, guns and other ordnance to support the war effort. As the aviation industry began to take hold in Cleveland, SIFCO joined in, partnering with companies such as Glen Martin's factory - now Lockheed Martin. Continued research and development led to techniques to forge high temperature, work hardening alloys. This capability enabled SIFCO to become a critical supplier of forged turbine discs for military aircraft during World War II. In the post-war era, SIFCO was poised to enter the Jet Age. SIFCO's metallurgical competence was put to use designing and producing new light weight forged turbine blades of heat-resistant, nickel-based alloys that were used in the first US-built jet engine. Today, the Company continues to forge discs, blades and other critical components for both aero and land-based turbines. Recent acquisitions have enabled the Company to leverage its core competency in forging while broadening into new materials and new markets.
"Commitment to technical excellence remains a hallmark of SIFCO today," said Jeff Gotschall, SIFCO's Chairman. "Throughout the years the company has pursued customer-driven innovation, expanded into new markets and maintained a workforce that possesses an unwavering commitment to quality. Today, we are proud to be one of the nation's premier metalworking companies, producing highly-engineered solutions to meet our customers' needs."
At the Centennial Celebration, SIFCO employees will enjoy an afternoon of speakers, proclamations and refreshments. Scheduled events include:
- Executives from SIFCO's customers will speak to employees about SIFCO's contribution to their success
- City officials will deliver a proclamation declaring May 16th as "SIFCO Industries Day" and re-name a portion of E. 64th Street to "SIFCO Boulevard"
Representatives from SIFCO's customers, suppliers and partners will also be attending the event.
The Company has highlighted stories from its proud history on its centennial website, www.sifco100.com.
SIFCO Industries, Inc. is engaged in the production and sale of a variety of metalworking processes, services and products produced primarily to the specific design requirements of its customers. The processes and services include forging, heat-treating, coating, welding, and machining. The products include forgings, machined forged parts and other machined metal parts, and remanufactured component parts for turbine engines. The Company's operations are conducted in two business segments: Forged Components Group, which consists of SIFCO Forge, Cleveland, Ohio; T&W Forge, Alliance, Ohio and Quality Aluminum Forge, Orange, California; and Turbine Components Services and Repair Group located in Minneapolis, Minnesota.
SIFCO Industries, Inc.
Catherine Kramer, 216-426-3168
KEYWORDS: United States North America Ohio
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