The UK company has agreed to acquire two specialist technology focussed businesses: Lake City Heat Treating (Lake City HT) and Stack Metallurgical Group (SMG).
Lake City HT, based in Warsaw, Indiana, is a medical market HIP and vacuum heat treatment business primarily supplying the orthopaedic implant market as well as civil aerospace customers.
SMG operates a HIP plant in Albany, Oregon and heat treatment plants in Portland, Oregon; Spokane, Washington; and Salt Lake City, Utah, in the US. The business focusses on the aerospace market and has additional sales in the energy and general industrial markets.
Bodycote has also announced plans to open a new HIP plant at one of the group’s existing sites in greater Los Angeles. This capacity will become operational during 2024 and will support the rapid growth in space and civil aviation markets in the Los Angeles area.
“These investments are an important and exciting enabler of our strategy to further enhance and grow our Specialist Technologies businesses,” said Stephen Harris, group chief executive of Bodycote. “In addition, they will also expand our footprint in Aerospace and Medical heat treatment on the West Coast and in Indiana in the US. The proposed new HIP plant in greater Los Angeles will allow Bodycote to take advantage of the burgeoning HIP market in Space and Civil Aerospace in the region.”