ST. LOUIS, July 31 /PRNewswire-FirstCall/ -- LMI Aerospace, Inc.(Nasdaq: LMIA), a leading provider of structural components, assemblies andkits to the aerospace, defense and technology industries, today announcedit has completed its acquisition of San Diego-based D3 Technologies, Inc.,a premiere design and engineering services firm. The purchase price of $65million in cash was funded with existing cash and borrowings ofapproximately $38.5 million under a new $80 million revolving creditagreement provided by Wachovia Securities. Founded in 1982, D3 Technologies has 350 employees, including 310highly qualified engineers and technical resources in offices in San Diego,Seattle, Dallas/Ft. Worth and Greenville, South Carolina. The companyperforms structure and sub-structure design work for manufacturers ofcommercial, business and military aircraft for Boeing, Spirit AeroSystems,Vought Aircraft, Airbus North America, Lockheed Martin and others. Keyprojects include roles on Lockheed's F-35 Lightning II and Boeing's 787,777 Freighter and 747-8 programs. D3 also provides design and complexprogram management support to many of its client's R&D departments and isactively engaged in the development of several next generation platforms. LMI Aerospace, Inc., which will celebrate its 60th anniversary in 2008,is a leading provider of structural components, assemblies and kits to theaerospace, defense and technology industries. The company fabricates,machines, finishes and integrates formed, close tolerance aluminum andspecialty alloy components and sheet metal products primarily for largecommercial, corporate and military aircraft. LMI Aerospace, Inc.,manufactures more than 30,000 products for integration into a variety ofaircraft platforms manufactured by leading original equipment manufacturersand Tier 1 aerospace suppliers. This news release contains several statements about management'scurrent expectations, plans and prospects that constitute forward-lookingstatements for purposes of the safe harbor provisions under the PrivateSecurities Litigation Reform Act of 1995. The actual results may differmaterially from those indicated by these forward-looking statements as aresult of various risks and uncertainties, including risks anduncertainties that relate specifically to the contemplated acquisition,such as: (i) that the D3 business will not be integrated successfully intoLMI; (ii) the risk that the expected benefits of the acquisition may not berealized; and (iii) LMI's increased indebtedness after the acquisition.Other non-acquisition related risks include those factors discussed fromtime to time in LMI's filings with the Securities and Exchange Commission.Please refer to the Risk Factors contained in the company's Annual Reporton Form 10-K for the year ended December 31, 2006, for more details.
