Karman Space & Defense Acquires Metal Technology Inc. (“MTI”), a Leading Supplier of Ultra-High Temperature, Refractory Alloy Systems for Strategic Missile Programs
HUNTINGTON BEACH, Calif. – Karman Holdings Inc. (“Karman” or “the Company”) (NYSE: KRMN), a leader in the rapid design, development, and production of next-generation technologies to combat near-peer nation state threats, focused on critical, integrated systems for the hypersonic, missile defense, UAV and space sectors, today announced it has acquired Metal Technology Inc. (“MTI), a leader in highly engineered products utilizing refractory alloys, for strategic missile programs, which includes nozzles, EM shielding, energetic liners, gas generators, shape charges and actuation systems, for $90 million in cash.
“The acquisition represents a natural expansion of our expertise in advanced materials and an opportunity to deliver valuable new capabilities to our customers. “
Founded in 1986 and based in Albany, Oregon, MTI has developed a proprietary product portfolio of niche, intellectual property-rich capabilities with a deep expertise in refractory metal alloys such as tantalum, zirconium, niobium, vanadium and molybdenum. MTI’s products serve a critical role in optimizing system performance and operate in highly corrosive, ultra-high-temperature payload deployment and propulsion environments associated with next-generation strategic missiles. With unique, multi-step manufacturing capabilities spanning additive manufacturing, hot forging and advanced forming, MTI is an industry leader in delivering integrated refractory metal products to the high growth strategic missile defense market.
“We are thrilled to add MTI to the Karman platform,” said Tony Koblinski, chief executive officer of Karman Space & Defense. “The acquisition represents a natural expansion of our expertise in advanced materials and an opportunity to deliver valuable new capabilities to our customers. MTI is a unique asset within the defense supply chain whose deep capabilities in refractory metals have been on our strategic roadmap for some time. Their customer and programmatic relationships create compelling opportunities to accelerate our growth and create shareholder value.”
“We welcome the talented members of MTI to the Karman team. We look forward to working together to deliver even more value to our customers as we continue executing on our mission to be the nation’s leading merchant supplier of advanced space and defense technologies,” Mr. Koblinski added.
ABOUT KARMAN SPACE & DEFENSE
We specialize in the rapid design, development, and production of next-generation technologies to combat near-peer nation state threats, focused on critical, integrated systems for the hypersonic, missile defense, UAV and space sectors. Our core technology offerings include propulsion, deployable shrouds, launchers, and energetic subsystems. Customers choose our advanced solutions to deliver mission success across a diverse set of existing and emerging programs supporting high-priority defense and commercial space sector initiatives. For more information, visit Karman-SD.com.
Forward-Looking Statements
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