Dynamic Materials sells tech services division for $6.8M

BOULDER – Dynamic Materials Corp. (Nasdaq: BOOM) has sold its AMK Technical Services division for $6.8 million to New York-based Air Industries Group (NYSE: AIRI), the Boulder-based company.

The AMK division provides welding services to the aircraft engine, power turbine and oil and gas industries. Dynamic Materials Corp. had acquired the South Windsor, Conn.-based company in 1998. It has been generating about 4 percent of Dynamic Materials Corp.’s consolidated sales.

Kevin Longe, president and chief executive of Dynamic Materials, said in a statement that shedding the company will allow Dynamic Materials to “enhance our operational and strategic focus on DMC’s primary NobelClad and DynaEnergetics businesses.”

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The NobelClad division uses explosive processes to fuse different metals and alloys for a variety of industries. The DynaEnergetics division manufactures, markets and sells specialized components and systems used to perforate oil and gas wells.

Air Industries Group manufactures precision equipment assemblies and components for aerospace and defense prime contractors. The company designs and manufactures flight safety parts, landing gear and components, arresting gear, flight controls, sheet metal fabrications and ground support equipment.