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Contact
A Representative
800-247-2000
FAX: 515-955-6636
Email
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D.L. Ricci Corp.
5001 Moundview Drive
Red Wing, MN 55066
651-388-8661 (fax) 651-388-0002
srearney@dlricci.com
www.dlricci.com
This file and the accompanying logos are available digitally upon request at: tmfeehan@dlricci.com
PRESS RELEASE
For immediate release
5/31/06
from Steve Earney
VP of Sales, D.L. Ricci Corp.
  
D.L. Ricci Corp. Purchased by Actuant
We are pleased to announce that Actuant Corporation (Milwaukee HQ) has completed the purchase of D.L. Ricci Corporation in late April, 2006. Actuant, listed on the New York Stock Exchange under the ticker symbol ATU, is a global company with sales in excess of $1,000,000,000 USD. Actuant consists of two groups of companies: Tools & Supplies and Engineered Solutions. You can find out more about Actuant at: www.actuant.com
D.L. Ricci will be managed as part of the Hydratight business, one of the businesses comprising Actuant’s Tools & Supplies division. Hydratight is a leader in the power generation, petrochemical, and oil & gas markets selling joint integrity solutions to companies such as Vestus, Siemens, GE, BP, Shell, BJ Services, Technip, and Marathon. They offer an extensive product line-up including hydraulic torque and tension tools, Morgrip pipe connectors, asset management software and in-situ bolting and machining services.
Dino Ricci (President of D.L. Ricci) and his management team (Steve Earney VP of Sales and Bob Deter Chief Operating Officer) will continue to manage the business (in Red Wing, MN), reporting to Brian Kobylinski, President of Hydratight. Mr. Kobylinski has over 15 years of experience with global industrial businesses and is a member of Actuant’s Leadership Team.
D.L. Ricci’s strong brand, dedicated customers, product portfolio, and leading market position were among the reasons for Actuant’s interest. D.L. Ricci will be a good fit with Hydratight. Combining Hydratight’s global bolting sales and service network with D.L. Ricci’s onsite machining technology provide opportunity to increase sales and to create a global company that provides customers a full portfolio of joint integrity solutions.
We expect the industry and market reaction to this announcement to be positive. Together, D.L. Ricci and Hydratight are a powerful combination of bolting and machining capabilities made up of 650 employees in 20 countries.
With patented machinery and trained staff, D.L. Ricci Corp. has grown to become a leading worldwide supplier of on-site machining solutions. 2005 was D.L. Ricci’s best year ever for overall on-site hours and profits. As an OEM, D.L. Ricci Corp. creates tools that cut and bevel pipe, bore, grind, mill, turn journals, end-prep, heat-treat and more. With facilities around the Globe we offer our tools through sales, rental or on-site technical support, as well as custom fabrication. Our website (www.dlricci.com) contains 34 videos of our products in action as well as product technical sheets & more.
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