CITY OF COMMERCE, CALIF. - Titanium propellant tank manufacturer Pressure Systems Inc. has acquired Programmed Composites Inc., a maker of lightweight advanced composite structures and components for spacecraft, from Ketema Inc. Terms were not disclosed. Alex Roberts, president and chief executive officer of PSI in City of Commerce, said he is pursuing a strategy to acquire ``smaller businesses providing a broad range of integrated mechanical components to the space industry.'' The PCI acquisition ``is the first step.''
PCI manufactures satellite bus structures, transponder panels, solar array substrates, precision reflectors and graphite support struts in a 54,000-square-foot facility in Anaheim, Calif.
PCI relocated in June from a smaller building in Brea, Calif.
PCI employs 60, recorded 1994 sales of $6 million and anticipates sales of more than $10 million this year, according to John Van Doren, division president.
Ketema, an engineered-products holding company in Denver, acquired PCI in 1989 and had operated it as a subsidiary with Van Doren as general manager. PCI was established in 1976.