Kevin Dooley named President and General Manager of FTI
Kevin Dooley was recently promoted from Executive Vice President and Chief Financial Officer to President and General Manager of Fatigue Technology (FTI), a part of the SPS Fastener Division of Precision Castparts Corp. He has been with FTI for nineteen years and was previously responsible for manufacturing operations, accounting, finance, quality, information technology, human resources, administration, risk management, and strategic planning. Kevin had a very diverse experience prior to joining FTI. He held management positions at several Fortune 500 companies including Boeing, PACCAR, Deloitte & Touche, and Raytheon.
Kevin has instituted the following management team changes to provide a strategic focus and to prepare the Company for growth.
- Doug Bakken was promoted to Vice President, Engineering and Operations. Doug has been with FTI for six years. Doug also worked for eighteen years at Hexcel.
- Victor Mazzawi was hired as Controller. Victor spent the last thirteen years with the Eaton Corporation.
- Kale Paulson was hired as Vice President, Sales and Marketing. Kale brings a background in business development and was the Director of Sales for Volvo Construction Equipment for the last ten years. Scott Gulick, VP-Commercial Sales, Dave Coddington, VP-Military Sales, Len Reid, VP-Technical Fellow will report to Kale. Dave Griffin, who also reports to Kale, was promoted to Sales Operation Manager. Dave manages the customer service and contracts group. He has been with FTI for sixteen years.
- Dana Kennedy was promoted to Director of Human Resources and Administration. Dana has been with FTI for five years. Dana will drive new initiatives in leadership and personnel development.
- Mark Weiss was promoted from Senior Applications Engineering Manager to Director of Engineering. Mark has been with FTI for twenty-three years. He will report to Doug Bakken. Quality Systems and audits will continue to report to Engineering.
- Anthony Morton was hired as Plant Operations Manager, reporting to Doug Bakken. Anthony has been with PCC for four years and was a graduate of the PCC Management Development Program.
- Travis Wilhelm was hired as Continuous Improvement Manager reporting to Anthony Morton. Travis is also a graduate of the PCC Management Development Program
- In addition, Adam Trantina was promoted to Quality Assurance Supervisor and Haley Foster was promoted to Sleeve Shop and Finishing Supervisor.
This management team will continue to drive FTI’s vision to be the market leader in expanded products through continuous technology innovation and customer focus. FTI’s immediate objective is to improve on its already high level of service, customer satisfaction, product quality and on-time delivery to meet the ever increasing demands and priorities of its customers.
FTI Introduces a New Method for Returning Damaged Access Panel Fastener Holes Back to Nominal Size
FTI has taken its proven ForceMate bushing installation process one step further to create a quick and easy method for repairing damaged countersunk holes in access panels and other thin skinned surfaces. The new process, ForceMate 2 Panel Repair, brings fastener holes that have been ovalized, oversized, shifted off-center, or otherwise damaged, back to nominal size.
Legacy hole repair methods used in the aircraft industry include shrink-fit bushings, large dimpled washers, riveted custom doublers, or bonded patches. These types of repairs have many shortcomings which include higher manpower requirements, longer repair times, unnecessary weight added to the aircraft, unrealiable repair consistency, and difficult field reparability. By comparison, ForceMate 2 Panel Repair offers a simple, lightweight, consistent repair in one-quarter to one-half the time of the other methods.
After repairing an unserviceable fighter aircraft access panel CMSgt. John Rassmussan, Quality Assurance Supervisor of the Oregon Air National Guard, was quoted as saying “In my 33 years this is probably the best thing that has ever come out. You don’t need an engineering degree to put these in, you can train anybody – it’s easy. And the benefits of this process are huge. You can’t see what’s going on below a dimpled washer or doubler - now you can fix the damaged hole properly and fix it right the first time.”
The ForceMate 2 Panel Repair System offers continued hole protection where repeated installation and removal of fasteners can contribute to wear of the fastener holes. The ForceMate 2 bushings increase the bearing area in the hole to reduce the repeated stresses that ovalize the hole and cause damage.
The ForceMate 2 system installs two nested bushings into a hole in one operation using FTI’s cold expansion tooling. Both bushings are fitted onto the end of an expansion mandrel which is then positioned into the cleaned-up hole. The mandrel is then drawn through the bushings expanding the outer bushing radially and then locking the inner bushing into place by using the outer bushing’s elastic springback after expansion. It is designed for fastener hole repairs ranging from 1/4 inch to 3/8 inch in diameter and is compatible with most countersunk panel fastener systems (including Milson and Tridair) and some Hi-Torque fasteners. The repair system has proven effective in aluminum, titanium and titanium honeycomb panels.
FTI's Len Reid recognized by the Puget Sound Engineering Council as the Industry Engineer of the Year.
Len Reid, Vice President, Research and Development at Fatigue Technology has been recognized as the Industry Engineer of the Year for 2009 by the Puget Sound Engineering Council (PSEC). Since 1969, the PSEC has acknowledged outstanding engineers in the academic, government, and industry fields who have significantly advanced the state of the engineering art, shown leadership in improving the industrial process, and have demonstrated use of engineering to minimize environmental impacts.
Len Reid is internationally regarded as a leading authority in structural life enhancement methodology and application of practical solutions to structural fatigue problems. He is routinely called upon to address international forums and has presented over 100 papers at all the major aircraft and helicopter structural fatigue conferences and aging aircraft forums. He is named on 18 U.S. and European patents and is active in a number of professional societies including ASM International, SAE, AIAA, and the Royal Aeronautical Society.
Mr. Reid started his career as an apprentice engine fitter with the Royal Australian Air Force (RAAF) in 1962, and later earned a Diploma in Aeronautical Engineering and then a Masters of Science Degree in Aircraft Design at Cranfield Institute of Technology in England. He served as RAAF Aeronautical Engineer responsible for Structural Integrity and Airworthiness Policy and retired as a Wing Commander prior to joining Fatigue Technology in 1987. As Vice President of Research and Development, Mr. Reid now specializes in developing and providing solutions to structural fatigue problems as well as innovative fastener, bushing, and fleet sustainment solutions for the aerospace industry.
Mr. Reid is also the Australian Honorary Consul for Washington State. In this role, he represents Australia at the state government and community levels and supports the Australian citizens in the region.
The PSEC will honor Len and his wife Pat at the 51st Engineering Awards Banquet on Saturday, February 21, 2009, at the Palisade Restaurant in Seattle. For more information about the PSEC visit www.pseconline.org .
TO: FTI Customers and Suppliers
FROM: Burke Gibson
SUBJECT: Precision Castparts Corp. (PCC) Acquisition of Fatigue Technology Inc. (FTI)
On October 3, 2008, we signed an agreement to sell Fatigue Technology Inc. to Precision Castparts Corp. The sale of FTI was a difficult decision for me and my family. I took over the company thirty-five years ago when we had only eight employees. I was personally involved in the hiring of many of FTI’s more than 200 employees and consider all of them to be part of our family.
We are very proud of the achievements FTI continues to make in advancing the science of cold expansion technology, the products we have introduced, and the tremendous success we have had over the years. It is gratifying to see the extraordinary impact that our products and services have made on the aerospace industry. Moreover, I am humbled by the awards and recognition that FTI has received over the past few years, and we are thankful for the contribution our company has made to the local community and our state.
Over the years, we have received many purchase inquiries for FTI and we never gave them a moment of consideration until we were approached by PCC. Our business acquaintance with PCC began in 2003 when they acquired one of our suppliers, SPS. We have since also worked with their Avibank division. Despite my familiarity with PCC, I was not comfortable with the sale until I was convinced that the acquisition would be beneficial to the future of FTI, our customers, and our employees.
After further examination of PCC’s operating companies, we found that we share common customers. The acquisition will mitigate any risk from reliability of supply to our single-source customers through the many manufacturing options provided by PCC.
In addition, PCC management has demonstrated with past acquisitions and through the negotiation process that they care as much about our employees as we do. PCC has a history of allowing their acquired companies to continue to be successful by maintaining their strong management team and dedicated employees. PCC, however, is able to provide many other tools and experience to make us that much more successful. This is a big reason I am excited about the future of FTI!
Therefore, we decided to move forward with the sale of FTI to PCC. I will be stepping down from my current position and at age eighty-two, finally retiring from FTI. I think it is time for a new chapter to be written in our history. I will be leaving FTI in the capable hands of my son Bruce Gibson, current president, who will continue to run the company with Kevin Dooley, our long-time executive vice president, and the rest of our strong management team and dedicated employees. Bruce has been running the day-to-day operations for the last five years. With his twenty-three years of experience at FTI combined with Kevin’s seventeen years, I am confident they will continue to successfully lead FTI in the future.
On behalf of my wife Dolores and my sons Scott and Bruce, I thank our customers for their business, friendships, and loyalty; our suppliers for their excellent service and support; and our employees for all that they have done these past thirty-five years.
I will truly miss all of you.
Sincerely,
Burke F. Gibson
Chairman of the Board and CEO
 Download this letter
In 1969, FTI pioneered the cold expansion process, which extends fatigue life in both metal and composite airframe fastener holes. The cold expansion process involves radial expansion of an existing hole, imparting residual compressive stress around the hole, and dramatically extending fatigue life. All products manufactured by FTI, including split sleeves, bushings, rivetless nut plates, blind nuts, and fittings utilize the cold expansion process in their installation and are specified by the airframe manufacturer to obtain the desired fatigue life benefits.
“The acquisition of FTI continues our efforts to grow and enhance our critical aerospace fastener product offering,” said Mark Donegan, chairman and chief executive officer of Precision Castparts Corp. (PCC). “The company fits squarely with all our core competency targets, and its sales are nearly 100 percent to the aerospace market. FTI is the technology leader in fatigue life extension for airframe applications, and we will look to leverage their expertise and knowledge base across our other fastener businesses.”
The cash acquisition of FTI will be immediately accretive to earnings and will be treated as an acquisition of assets for tax purposes. Subject to regulatory approvals, the acquisition is expected to be completed in the third quarter of fiscal 2009, after which FTI’s results will be reported as part of the Fastener Products segment.
###
Precision Castparts Corp. is a worldwide, diversified manufacturer of complex metal components and products. It serves the aerospace, power generation, automotive, and general industrial and other markets. PCC is the market leader in manufacturing large, complex structural investment castings, airfoil castings, and forged components used in jet aircraft engines and industrial gas turbines. The Company is also a leading producer of highly engineered, critical fasteners for aerospace, automotive, and other markets and supplies metal alloys and other materials to the casting and forging industry.
| 
