Sequa serves the aerospace and metal coatings sectors through its two primary operating segments. Chromalloy Gas Turbine, its largest unit, makes and repairs jet engine parts such as major rotating parts, cases, frames, and combustors for airlines, industrial customers, and other aftermarket customers. A North American industry leader, Precoat Metals coats coiled steel for construction, residential, and industrial projects. In late 2012, its Sequa Automotive Group -- which made airbag inflators for many OEMs and featured CASCO Products as a tier one automotive supplier -- was sold to investment firm The Jordan Company. Sequa is owned by global private investment powerhouse The Carlyle Group.
Generating more than $1 billion in revenue, Chromalloy's gas turbine engine parts and repair services cater largely to operators in commercial aviation (the vast majority of its revenues), as well as military and energy related industries worldwide. Chromalloy's products and services are offered worldwide through joint ventures with Advanced Coating Technology (develops thermal barrier coatings for airfoils with Pratt & Whitney), BELAC (high pressure turbine replacement blades, jointly owned with Lufthansa Technik, United Airlines, and Alitalia), and Turbine Airfoil Coating and Repair (repairs and coats airfoils for industrial gas turbines with Siemens). In the energy sector, its engineers collaborate with Solar Turbines, a manufacturer of terrestrial gas turbine generators.
The performance of Sequa's Precoat Metals unit depends upon both the volume of manufacturing production and construction projects, and the efficiency of its own operations. Precoat Metals uses low pressure plasma spray overlay coatings for turbine applications.
In order to focus on its primary segments, Sequa finished its sale of its automotive group to The Jordan Company in November 2012 for $400 million.
Sequa has bolstered Chromalloy Gas Turbine's operations by investing in its manufacturing, service, and sales network. During 2010, Chromalloy opened a new office in Beijing, China, as well as doubled capacity at its Bangkok, Thailand turbine component repair and manufacturing facility. In addition, Chromalloy's investment in research and development has resulted in introducing a string of coating, and repair and manufacturing technology advancements benefiting existing and new customers. – less