Ameriforge Group Inc. Acquires Prince Industries

    Acquisition to Expand Ameriforge's Precision Machining Capabilities

    HOUSTON, Aug. 30 /CNW/ -- Ameriforge Group Inc. announced today that it
has acquired the business and assets of Prince Industries, a provider of
precision machining for large seamless rolled rings and other forgings used in
high-growth industries, including power generation, aerospace, and industrial.
 Terms of the transaction were not disclosed.
    (Logo: )
    David Heminger, President and CEO of Ameriforge Group Inc. said, "The
acquisition of Prince Industries continues our aggressive growth by deepening
our precision machining capabilities and operational competencies to the
benefit of our key customers.  Prince Industries has done business with
Ameriforge during the past several years, both in the machining of forged
components and precision forge-die production.  This company is a great fit
with Ameriforge's strategic objectives, and I am extremely pleased that the
Prince Industries team has now joined Ameriforge."
    Harold Ecklund, President of Prince Industries, commented on the purchase
saying, "I am very happy in joining the Ameriforge team.  I am certain I made
the right decision because we will complement each other and we will continue
to do what we have been doing well all these years -- providing great service
and quality for our customers."
    Ameriforge Group is a manufacturer of forged products; providing
comprehensive capabilities ranging from engineering design, forging,
machining, testing, welding, assembly, and supply chain management.  The
company is organized into three distinct market focused business segments,
including (1) Connectors and Sealing Technology, (2) Power Generation and
Aerospace, and (3) Transportation, Oil & Gas, and Industrial.  Prince
Industries' physical assets and workforce will join Ameriforge's Michigan-
based operating subsidiary, Steel Industries Inc., headquartered in Redford

For further information:

For further information: Charles Armbrust, SVP and Chief Financial
Officer  of Ameriforge Group Inc., +1-713-393-4291,
Web Site:

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