Xtek and Metlab Form Strategic Alliance
Xtek Inc. (Cincinnati, Ohio), a manufacturer of custom machined and heat-treated parts and component assemblies, and Metlab (Philadelphia, Pa.), a metallurgical consulting, heat treat and surface enhancement company, have formed a strategic partnership where Xtek will acquire Metlab's large carburizing furnaces and associated support equipment, while Metlab maintains the use of the equipment via a long-term lease. Metlab will continue to serve all existing customers out of its Philadelphia facility for large carburizing, nitriding and hardening while gaining working capital to expand its operations, and additional investment capital over the next year to further enhance the capability of the furnaces.