EVERETT – Neuvant Aerospace’s local employees still have their jobs this week after a Georgia-based company purchased the Everett-based maker of wing spars and other machined parts for the Boeing Co.
Turbine Engine Components Technologies Corp. completed its acquisition of Neuvant on Friday.
Kevin McKay, vice president of sales and marketing at the former Neuvant facility in Woodinville, said Tuesday that “100 percent” of the 207 employees there and in Everett have been retained.
Last week, to meet the letter of the law, Neuvant filed a layoff notice with the state indicating that all of its employees could be at risk of losing their jobs as the company changed hands. For now, that’s not the case, McKay said.
Turbine Engine Components Technologies, based in Thomasville, Ga., isn’t new to the Puget Sound area. Privately held like Neuvant, the company makes airframe structures, fan blades and other parts for the aerospace, rail and power generation industries. In October, Turbine Engine Components Technologies purchased Tru-Circle Aerospace, which has a plant in Kent.
Neuvant was formed five years ago when Allfab Aerospace Corp. of Everett merged with two other airplane parts manufacturers. Before that, Allfab had been spun off from General Electric.
The company’s headquarters in Everett include 170,000 square feet for machining and sheet metal work. It also has a 56,000-square-foot facility in Woodinville.
Woody Bower, Turbine Engine Components Technologies’ president, said in a statement about the acquisition that buying Neuvant extends the company’s reach into the aerospace market. In return, Turbine Engine Components Technologies has the resources to strengthen Neuvant, which has struggled financially in recent years.
Reporter Eric Fetters: 425-339-3453 or fetters@heraldnet.com.
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