Ameriforge Group Inc. Acquires GLOENCO and Related China Operations

Ameriforge Group Inc. Acquires GLOENCO and Related China Operations

May 02, 2007

Acquisition to Expand Ameriforge's Power Generation and
Aerospace Market Capabilities

    HOUSTON, May 2 /Xinhua-PRNewswire/ -- Ameriforge Group
Inc. today announced that it has acquired the assets of
GLOENCO, a global provider of leading-edge products,
services, and supply chain solutions for the power
generation and aerospace industries. In addition,
Ameriforge acquired the stock of GLOENCO's related China
operations: Foshan AF Manufacturing Technology Co., Ltd.
and Shanghai AF International Trading Company.  Terms of
the transaction were not disclosed. 

    (Logo:
http://www.newscom.com/cgi-bin/prnh/20070501/CLTU130LOGO 
)

    GLOENCO provides design, machining, welding, testing,
assembly, and component repair services to select power
generation and aerospace customers. The company operates
from multiple facilities in Newport, New Hampshire;
Greenville, South Carolina; Shanghai, China; and Shunde,
China. 

    David Heminger, President and CEO of Ameriforge Group,
Inc., said, "Ameriforge is a leader in providing fully
integrated forged product solutions to strategic customers
in selected markets. The GLOENCO acquisition continues our
aggressive growth by broadening our manufacturing base,
expanding geographically, and applying our operational
competencies to the needs of our key customers. GLOENCO's
manufacturing capabilities, global presence, and advanced
supply chain management expertise are a great fit with
Ameriforge's strategic objectives. This acquisition is a
hallmark event for Ameriforge, and I am extremely pleased
that GLOENCO has now joined the Ameriforge team." 

    Rick Thomas, President of GLOENCO, commented on the
purchase saying, "We were one of Ameriforge's select
group of strategic customers. Through our collaborative
working relationship we saw firsthand the potential for the
alignment of Ameriforge's superior performance and
innovative business approach with GLOENCO's advanced
capabilities and strong relationships within the global
power generation and aerospace market segment. GLOENCO is
committed to providing superior service -¨D access to the
Ameriforge infrastructure will allow us to provide an
expanded and improved range of products, service, and
support to our customers." 

    Ameriforge Group is a manufacturer of forged products,
dedicated to growing with select customers and suppliers
through collaboration in process and technical innovation,
applied to global markets. Ameriforge provides complete
forged product solutions -- fully integrating design,
forging, heat-treating, precision machining, specialized
welding, component assembly, and testing. The company
serves a variety of markets and is organized into three
distinct market focused business segments, including (1)
Connectors and Sealing Technology, (2) Power Generation and
Aerospace, and (3) Transportation and Industrial. GLOENCO
will continue to operate as an independent company,
associated and closely aligned with Ameriforge's Power
Generation and Aerospace business segment. 


    For more information, please contact:

    Charles Armbrust
    SVP and Chief Financial Officer
    Ameriforge Group Inc.
    Tel:   [phone]
    Email: [e-mail]