Perryman Co. intends to remain family owned as it pursues
growth in a market populated by rivals that are part of larger,
publicly owned companies.
consolidation in the titanium supply chain, the company
isnt for sale, according to Frank Perryman, president and
chief executive officer. The Houston, Pa.-based company, which
supplies titanium bar, coil and net shapes to the aerospace and
medical markets, was founded in 1988 by his father, industry
pioneer James T. Perryman Sr.
"We see a lot of
opportunity and growth in our markets, and plan to continue
with our strategies," Perryman said.
Those strategies have
included more than $100 million in investments since 2005 that
have made the company an integrated producer, as well as a
$40-million program disclosed this week that will add enough
finishing capacity to double its output of titanium aerospace
fastener stock and bar products for medical and other markets
amm.com, Sept. 30).
Perryman is confident
the company can continue to grow in a fastener stock market
where most of its rivals are owned by larger companies,
including whats considered to be its main competitor,
Washington, Pa.-based Dynamet Inc., a subsidiary of Carpenter
Technology Corp., Wyomissing, Pa. Other big companies that have
entered the fastener market in the past three years are
Allegheny Technologies Inc., the Pittsburgh-based parent of
long products producer Allvac Inc., Monroe, N.C., and
Russias VSMPO-Avisma Corp., which has installed
small-diameter bar and wire capacity at its NF&M
International Inc. subsidiary in Monaca, Pa.
said growth in aerospace has made the companys goal of
bringing medicals share of overall business up to 40
percent a moving target. Last year, when the company acquired
the Pittsburgh operations of Accellent Inc., a supplier of
forgings to the medical industrynow Perryman Co.s
Forge and Fabrication Grouphe estimated the acquisition
could raise the medical segments share to 35 percent from
30 percent (
amm.com, May 7, 2012).
But Perryman pointed
out this week that aerospace, spurred by commercial aircraft
demand, "continues to ramp (up)," and it remains at about 60
percent of business, with medical, despite its own growth,
remaining at 30 percent. The upcoming expansion in finishing
capacity will support both markets, he said.
The remaining 10
percent or so of the companys business is in the
industrial automotive and recreational vehicle markets,