Edac Technologies (EDAC)

[MikeDDKing]

EDAC Technologies Announces Combined Sales Backlog
On Wednesday June 3, 2009, 6:00 pm EDT

FARMINGTON, Conn., June 3 /PRNewswire-FirstCall/ -- EDAC Technologies Corporation (Nasdaq: EDAC - News), a designer and manufacturer of tools, fixtures, jet engine components, composite molds and spindles, announced today combined sales backlog in excess of $135 million as a result of new orders and its acquisition of MTU Aero Engines North America Inc.'s manufacturing business unit, located in Newington, Connecticut. As announced previously, EDAC Technologies completed this acquisition on May 27, 2009. The unit primarily manufactures rotating components, such as disks, rings, and shafts for the aerospace industry. Backlog consists of accepted purchase orders that are cancelable or may be rescheduled by the customer without penalty, except for payment of costs incurred, and may involve delivery times that extend over periods as long as five years.

Dominick A. Pagano, President and Chief Executive Officer of EDAC Technologies, commented: "We are optimistic that with the new orders and acquisition, we have achieved a more diverse product line and client base that we believe will benefit us as the aerospace market recovers."

Cautionary Statement Regarding Forward Looking Statements - This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company uses words such as "plans," seeks," "projects," "expects," "believes," "may," "anticipates," "estimates," "should," and similar expressions to identify these forward looking statements. These statements are subject to risks and uncertainties and are based upon the Company's beliefs and assumptions. There are a number of important factors that may affect the Company's actual performance and results and the accuracy of its forward-looking statements, many of which are beyond the control of the Company and are difficult to predict. These important factors include, without limitation, factors which could affect demand for the Company's products and services such as general economic conditions and economic conditions in the aerospace industry and the other industries in which the Company competes; competition from the Company's competitors; and the Company's ability to enter into satisfactory financing arrangements. These and other factors are described in the Company's annual and quarterly reports filed from time to time with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's expectations and beliefs as of the date of this release. The Company anticipates that subsequent events and developments may cause these expectations and beliefs to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation or intention to do so.


Contact:
Glenn L. Purple
Vice President-Finance
860-677-2603