FT MITCHELL, Ky., Nov. 7, 2011 /PRNewswire/ -- TECT Power announced today that it has completed the sale of the assets of its Newington, Conn. operations to Beacon Industries of Bloomfield, Conn. The facility, which produces discs, shafts, and hubs for aerospace and industrial gas turbines, competes in product niches that are not a core element of TECT Power's long-term strategy. Financial terms of the transaction were not disclosed.
"We are very pleased to have been able to find a buyer with such a strong reputation and presence in the aerospace industry for our Newington operations," said Robert Cohen, president of TECT Power. Cohen went on to say, "Our Newington operations have a highly skilled workforce producing quality complex components for our customers and selling to Beacon will enable our customers to continue to receive the same standard of service that they have come to expect."
The TECT Power facility on Cedar Street currently has 90 full-time employees and manufacturing technologies include turning, broaching, Curvic® coupling, milling, balancing, and full non-destructive testing capabilities. The facility is AS9100 and ISO 9001 certified.
About TECT
TECT is a family of privately held, independently managed aerospace companies currently consisting of the TECT Aerospace and TECT Power business units. With more than 115 years of continuous operations, the TECT businesses have a unique blend of business processes, equipment, and proprietary manufacturing capabilities that have earned them leading positions in many of their product niches. TECT's philosophy of utilizing a fully integrated supply chain allows them to deliver precision components and assemblies to customers worldwide with unmatched quality and speed. To learn more, visit www.tectcorp.com.
SOURCE TECT Power
