Houston, TX and Carlsbad, NM (June 10, 2014) – Celtech profitable 9 months into acquisition by Atec.
“Atec, Inc. is proud to announce that Celtech Corporation has met or exceeded its milestone goals following its purchase by Atec on September 1, 2013. Cash flow and profitability are positive, and Celtech revenues are solidly projected to exceed $5 Million for 2014,” expressed Paul Fenley, Atec President.
Atec and Celtech together offer over 100 years of corporate operations, project experience, IP and products to the Aeroengine and Energy Service industries. The two campuses in Carlsbad and Stafford comprise 125,000 sq. ft. of buildings on 15 acres, with electronics production, 5 axis machining, heavy fabrication and support services in an AS9100C quality business system.
“Early alignment focus has been on Improving Operations and Quality, Updating and Meshing Products and Responsiveness to Customers,” continued Fenley.
“Over 50 personnel have interchanged between Atec and Celtech locations in these first nine months. The combined companies now include 50 Engineers and a proven field services staff to address the technical challenges of our customers. Over 30 personnel have been added to our workforce in the last year. New equipment and software have matched physical plant additions in Houston and Carlsbad. Existing projects involving ASE are substantially complete, and new awards have already exceeded first year targets,” said Mike Rigdon, VP & Alignment Manager.
“Customers are rallying to our plan to keep Celtech as a functioning company, supportive of Celtech’s long aeroengine support equipment ancestry involving Mil IM test gear from Page Avjet, Knight Aerospace, Space Corp, ASE, and now Atec. Our enlarged technical team is currently working to modernize Celtech’s products. Ideas for improvement of our test stands are being actively defined for potential submittal and incorporation in conformity to MIL requirements. Other product improvements are not too far behind,” added Rigdon.
“Customers are now bringing us new product and upgrade opportunities for development, fielding and service. Although product Modernization efforts are in early stages, users can rest assured that Celtech and Atec are committed to proven, rugged Technology with a strong emphasis on Compatibility for new configurations. Our vision of offering our worldwide user base a clear ‘leadership source’ for Military Intermediate Engine Test needs is ahead of plan and being well received by our customers – – feedback is very positive,” concluded Howard Lederer, Atec Chairman.