PAS Technologies Acquires SIFCO Industrial Turbine Component Repair Business

Kansas City, Mo. – June 8, 2007 – PAS Technologies Inc., has acquired the industrial turbine business of SIFCO Industries based in Carrigtwohill, Cork, Ireland. SIFCO is recognized as a global leader in providing specialized manufacturing and refurbishment services to the power generation industry. Its capabilities focus on heavy industrial turbine (HIT) and light industrial turbine (LIT) markets, and its operations also provide high-technology, specialized coatings for major aerospace OEMs.

Bill Lodwick is the managing director of the new entity, known as PAS Technologies Ireland Ltd., as well as vice president of European/Middle East Operations for PAS Technologies. Thomas Tan replaces Lodwick as the managing director for Asian Surface Technologies Pte Ltd (AST) and vice president of Asia Pacific Operations for PAS Technologies. Both Lodwick and Tan will report to Robert Weiner, president and chief executive officer. In the interim of Lodwick relocating to Ireland, Jim Andrews will be the onsite acting manager.

Established in 1983, SIFCO's Irish operation provides component repair services to power generation plants built by General Electric, Siemens/Westinghouse, Rolls-Royce, SOLAR and others.

The acquisition closed at an undisclosed price.

With this purchase, PAS Technologies has acquired extensive hot section repair and associated coating experience, capacity and capability. The acquisition is part of PAS Technologies' stated strategy to expand and enhance its product and service offerings in the industrial gas turbine (IGT) and aerospace markets.

"The acquisition provides PAS Technologies with strategic capability, capacity and expertise to efficiently and effectively expand our service offerings for our customers," Robert Weiner, president and chief executive officer said. "In addition to meeting the needs of our existing customers, adding SIFCO’s facilities for servicing engine hot section blades and vanes gives PAS Technologies expanded repair capabilities and provides cost-effective solutions for all our customers."

A privately held corporation headquartered in North Kansas City, Missouri, PAS Technologies Inc. (www.pas-technologies.com), specializes in providing cost-effective repair and overhaul solutions for the aerospace and industrial markets. By using innovative and proprietary high-technology repair processes, along with repair solutions licensed from OEMs, the company saves its customers from having to purchase costly replacement parts. It services a broad range of components, including gas turbine engines, critical airframe parts, gates and seats used in oil fields, specialized provider of services to the power generation industry, and components used in other industrial high-wear, high-heat and highly corrosive environments.