Howmet Corporation signed an agreement on October 28, 1998 to license several countergravity casting processes and technologies from Hitchiner Manufacturing Co., Inc. In a separate understanding, Howmet has agreed to share with Hitchiner aspects of the synchronous manufacturing technology it has developed, which know-how has enabled Howmet to improve productivity in its 19 U.S. manufacturing facilities an average of seven percent per year for the last six years.
"This is an important agreement which will open up new technical and product opportunities for Howmet," says David L. Squier, Howmet President and CEO.
"We are pleased to enter into an arrangement with Howmet that will provide the opportunity to expand the use of countergravity casting technology into new markets and allow Hitchiner to benefit from Howmet's experience in applying synchronous manufacturing technology," says John H. Morison, III, Hitchiner president and CEO.
Headquartered in Greenwich, CT, Howmet is the world's largest manufacturer of precision investment castings of superalloy, titanium and aluminum alloys, for jet aircraft and industrial gas turbine engines. Howmet and its affiliates operate 29 production facilities in the United States, Canada, France, the United Kingdom and Japan.
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Last modified and validated 1-January-1999.
