Founded in 1994, TK Engineering Associates specializes in design, analysis, consulting and project engineering services for gas turbine engines utilized in aviation, as well as turbines utilized in both wind and traditional power generation. A core team of TK Engineering employees are senior-level aerospace and engineering professionals with extensive experience in jet engine design.
"The acquisition of TK Engineering Associates adds important skillsets and talents to our existing aerospace engineering portfolio," said Roger H. Ballou, President and Chief Executive Officer of CDI. "This transaction is part of our overall strategy to build CDI capabilities in delivering high-value engineering services to our clients in targeted industries. The addition of TK Engineering not only enhances our capabilities in aviation turbine design, but also provides valuable skills for our power generation clients."
"I am proud of the successful company that we have created over the past 14 years and am excited to join forces with CDI to provide more comprehensive services to a broader client base," said Robert Turnbull, Chairman of TK Engineering. "Our experience in emerging technologies will assist CDI in meeting the needs of both the aerospace and the power generation markets from a global standpoint."
Effective immediately, TK Engineering becomes part of the CDI-Aerospace group within CDI's Engineering Solutions division. "During our two-year participation in a joint venture with TK Engineering, we were impressed with the talent depth of their qualified professionals and their project management skills in developing vital components of next generation aircraft engines," said Robert Giorgio, President of CDI Engineering Solutions. "With this acquisition, we are creating a stronger aerospace organization that will help our clients deliver the energy efficient innovations required in 21st century turbine design."
About CDI
Headquartered in Philadelphia, CDI Corp. (NYSE: CDI) is a leading provider of engineering and information technology outsourcing solutions and professional staffing. Its operating units include CDI Engineering Solutions, CDI IT Solutions, CDI AndersElite Limited and Management Recruiters International, Inc. Visit CDI at http://www.cdicorp.com. As part of CDI Engineering Solutions, CDI-Aerospace provides a full range of consultative, design, engineering, outsourcing and staffing solutions to the commercial / military aerospace and satellite industries through three core service lines: Mechanical Design & Drafting, Analysis and Technical Support. Learn more at http://www.cdi-aero.com.
Caution Concerning Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that address expectations or projections about the future are forward-looking statements. Some of the forward-looking statements can be identified by words like "anticipates," "believes," "expects," "may," "will," "could," "should" and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions that are difficult to predict. Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond our control or are subject to change, actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to: changes in general economic conditions and levels of capital spending by customers in the industries that we serve; competitive market pressures; the availability and cost of qualified labor; our level of success in attracting, training, and retaining qualified management personnel and other staff employees; changes in customers' attitudes towards outsourcing; our performance on customer contracts; and government policies or judicial decisions adverse to our businesses. More detailed information about some of these risks and uncertainties may be found in our filings with the SEC, particularly in the "Risk Factors" section of our Form 10-K's.
