"This acquisition is a significant step forward for Haynes as it will allow us to enhance our product portfolio, plus expand our presence in the super alloy marketplace," said Francis J. Petro, Haynes' President and Chief Executive Officer. "During the past several months we have experienced increased sales resulting in an expanded order backlog double this time last year. We are confident this acquisition will contribute substantially to continued growth and success. We anticipate within the next three to five years wire revenues will double."
Branford Wire & Manufacturing will be renamed Haynes Wire Company and continue operations in Mountain Home, North Carolina.
"Branford Wire has a rich heritage in their industry that spans over 45 years. They also possess an experienced, skilled and stable workforce that we are pleased to welcome to the Haynes organization," said Petro.
Haynes International, Inc. is a leading developer, manufacturer and marketer of technologically advanced, high performance alloys, primarily for use in the aerospace and chemical processing industries.
Cautionary Statement Regarding Forward-Looking Information and Other Matters
This document contains certain statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements may include statements regarding the intent, belief or current expectations of the Company or its officers with respect to the Company's strategic plans and ability to benefit from this transaction. Readers of this document are cautioned that reliance on any forward-looking statement involves risks and uncertainties. Although the Company believes that the assumptions on which the forward-looking statements contained herein are based are reasonable, any of those assumptions could prove to be inaccurate given the inherent uncertainties as to the occurrence or nonoccurrence of future events. There can be no assurance that the forward looking statements contained in this document will prove to be accurate. The inclusion of a forward-looking statement herein should not be regarded as a representation by the Company that the Company's objectives will be achieved.