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EDAC Technologies Corp., a Farmington, Conn.-based designer and manufacturer of jet engine components, tools, fixtures, injection molds and spindles, has won a three-year $5.3 million contract with a helicopter manufacturer.
The deal, which has an option to add two years, calls for EDAC to provide the unnamed manufacturer with a rotating component. The contract is a first in the field of rotorcraft parts for EDAC. “It reflects our strategy of targeting markets beyond our traditional engine components business, in order to diversify the Company’s revenue base and expand upon our strengths in precision aerospace parts manufacturing,” said Dominick Pagano, president and CEO of EDAC, in a statement.
In May, EDAC (Nasdaq: EDAC) paid about $300,000 to acquire Accura Technics LLC, a maker of high-precision grinding and machining systems in Keene, N.H. A year prior, in May 2009, the company announced that it planned to buy Newington, Conn.-based MTU Aero Engines North America.
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