in PCTH yesterday
Thursday March 16, 8:00 am Eastern Time
Company Press Release
SOURCE: Pacific Aerospace & Electronics, Inc.
Pacific Aerospace & Electronics Announces Formation of Applied Technology Division to Further Fuel Cell Efforts
WENATCHEE, Wash., March 16 /PRNewswire/ -- Pacific Aerospace & Electronics, Inc. (Nasdaq: PCTH - news), an international engineering and manufacturing company specializing in technically demanding components and assemblies, announced today that it has formed a new division specifically to address the transfer of its material science technologies to fuel cell and medical implant applications. The new division will focus on tightly linking Pacific Aerospace's design, prototyping and volume production capabilities to serve manufacturers of PEM (Proton Exchange Membrane) and SOFC (Solid Oxide Fuel Cell) fuel cells.
The Applied Technology Division will report directly to Werner Hafelfinger, Vice President Operations and COO of Pacific Aerospace and will pursue technical solutions to fuel cell manufacturing difficulties, including ceramic sealing, joining, interconnect stability and thermal stress distribution. The division will utilize current PA&E engineering staff as well as additional personnel to be hired.
``With numerous patents issued and pending in the fields of ceramics and exotic metals, Pacific Aerospace is a leader in combined materials technology and is well positioned to leverage these technologies to address the burgeoning fuel cell market,' said Don Wright, CEO of Pacific Aerospace & Electronics. ``Based upon initial orders and combined with a number of customer inquiries, we have recognized that many of the fuel cell manufacturers are encountering much of the same mission-critical issues that our aerospace customers see. With our expertise in proprietary ceramic and metallic fabrication methods, we are encouraged to move forward with this new division.'
Pacific Aerospace & Electronics, Inc. is an international engineering and manufacturing company specializing in technically demanding component designs and assemblies for global leaders in the aerospace, defense, electronics, medical, energy and transportation industries. The Company is organized into three operational groups -- U.S. Aerospace, U.S. Electronics and European Aerospace -- with its European operations accounting for approximately half of its revenue. Pacific Aerospace & Electronics is headquartered in Wenatchee, WA, and has approximately 1,100 employees worldwide.
SOURCE: Pacific Aerospace & Electronics, Inc.
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