WINFIELD, Kan. -- Galaxy Technologies Corporation (Galaxy) announced today that they are continuing their strategy of investing in state-of-the-art equipment and technology to support the increasing requirements of its aerospace and plastics customers. Galaxy has placed an order to purchase two new DMG 5-axis, high-speed machining centers and a new Zeiss coordinate measurement machine (CMM).
We sent a team to Germany last month to test and verify DMG's accuracy and repeatability and were very impressed with the overall results
With our continued growth over the last year, we are making the investment to ensure we can deliver our products and services with the highest degree of quality and always on-time, says Andy Plyler, Galaxy President and Chief Executive Officer. All sectors of our business are expanding, especially the commercial aerospace market. It is imperative that we continue to add new capabilities and increased capacity to meet our customers' needs, Mr. Plyler added.
The DMG machining centers are currently being manufactured and assembled in Frankfurt, Germany. We sent a team to Germany last month to test and verify DMG's accuracy and repeatability and were very impressed with the overall results, stated Paul Maples, Galaxy Senior Vice President of Planning and Operations. We anticipate both machining centers will be in production by August 2013, Mr. Maples added.
According to Vincent Pray, Galaxy Vice President of Programs and Quality, We are very excited to bring on-line the new Zeiss CMM in July 2013, while at the same time upgrading our current CMM to the latest technology available in the market.
Galaxy, located in Winfield, Kan., is a 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 is the majority shareholder of Galaxy's parent company Galaxy Tool Holding Corporation. Gladstone Investment Corporation is a publicly traded business development company that seeks to make debt and equity investments in small and mid-sized businesses in the United States in connection with acquisitions, changes in control and recapitalizations.
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