Globe Composite Solutions: ESCO Announces Acquisition of Navy Submarine Supplier

St. Louis, July 09, 2019 (GLOBE NEWSWIRE) -- ESCO Technologies Inc. (NYSE:ESE) today announced that it has acquired Globe Composite Solutions, LLC (Globe), a well-established, vertically integrated supplier of mission-critical composite-based products and solutions for navy, defense, and industrial customers.Globe works directly with the U.S. Navy and also through prime contractors to cost-effectively and efficiently produce parts that meet rigid military-grade specifications through its internally developed expertise. Its products are utilized for acoustic, signature-reduction, communications, sealing, vibration-reducing, surface control, and hydrodynamic-related applications.Significant capital investments in recent years have enabled the company to secure multi-year contracts to supply stealth components on the growing fleet of U.S. Navy submarines. As an industry leader, the company is solidly positioned for future growth.Globe supplies over 140 different parts on the Virginia and Columbia class submarines, including special hull treatments (SHT), large aperture bow (LAB) array acoustic panels, missile hatch gaskets, transducer covers, propulsor fairings and propeller shaft snubbers.The company operates a state-of-the-art 72,000 square foot research, design, machining and production facility in Stoughton, Massachusetts (near Boston) along with a 30,000 square foot logistics support facility located nearby. The facilities are located less than 90 minutes from the three major navy shipyards.Globe, which will become part of ESCO's Filtration operating segment, projects 2019 calendar year sales of approximately $37 million with operating margins consistent with the segment in total.Vic Richey, ESCO's Chairman and Chief Executive Officer, commented, "I'm excited to welcome the outstanding and dedicated employees of Globe to our ...Full story available on Benzinga.com