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Galaxy Tool Corp. Increases Manufacturing Capability and Capacity

Dépèche transmise le 28 juillet 2011 par Business Wire

Galaxy Tool Corp. Increases Manufacturing Capability and Capacity

WINFIELD, Kan.--(BUSINESS WIRE)--Galaxy Tool Corporation announced today a major capital investment in equipment and machinery. “We are pleased to inform the marketplace and our customer base of our continued and substantial investment in machining capability and overall production capacity,” stated Andy Plyler, Galaxy president and chief executive officer. “As we accelerate our world-class manufacturing performance by investing in leading edge technology, we position ourselves to continue providing the highest levels of customer service in the industry,” continued Plyler.

“As we accelerate our world-class manufacturing performance by investing in leading edge technology, we position ourselves to continue providing the highest levels of customer service in the industry”

On Aug. 1, 2011, Galaxy’s newest 5-axis machining center comes online for revenue production. The machining center was designed and manufactured by FIDIA, a leading supplier of computer numerically controlled (CNC) machinery for the milling of complex surfaces. With travel of 157 inches along the Y-axis, 79 inches along the X-axis and 55 inches along the Z-axis, 24,000 rpm tool speed, and spindle machining of 1,200 ipm, the FIDIA machine center will increase Galaxy’s large 5-axis machining capacity by 30 percent. Vice President of Business Development Paul Maples states, “Galaxy continues to see a surge in demand from current and potential customers for 5-axis machining. The addition of this machine allows us to offer shorter lead-times while enhancing customer support and creating additional growth opportunities for Galaxy.”

Galaxy also announced the purchase and installation of a TARUS gun drill, with drilling capabilities of .250 inches to 2 inches in diameter and bore travel of up to 96 inches. The offset gun drill is being retro-fitted with a new FIDIA CNC control. Galaxy anticipates the gun drill will be operational by late November of this year. “With the continued growth of our mold and plastics business unit, our new gun drilling equipment will allow us to exceed the expectations of current and future customers,” stated Plyler.

Galaxy Tool Corporation is located in Winfield, Kan. Galaxy is major supplier for the design, manufacturing and assembly of production tooling for the aerospace, defense and plastic markets. Major customers include Boeing, Spirit Aerosystems, Northrop Grumman, Lockheed Martin, Rubbermaid and Coleman. Gladstone Investment Corporation, a publicly traded (NASDAQ: GAIN) business development company, is the majority shareholder of Galaxy Tool Corporation’s parent company Galaxy Tool Holding Corporation. Gladstone Investment focuses on providing debt and equity capital to U.S.-based businesses in connection with acquisitions, changes in control and recapitalizations.