SIFCO Industries, Inc. (‘SIFCO’) engages in the production of forgings, sub-assemblies, and machined components primarily for the Aerospace and Energy (‘A&E’) markets.
The company’s processes and services include forging, heat-treating, chemical processing, and machining. The company’s operations are conducted in a single business segment.
In October 2024, the company sold its European operations in order to streamline operational synergies and refocus on its core aerospace forging business. S...
SIFCO Industries, Inc. (‘SIFCO’) engages in the production of forgings, sub-assemblies, and machined components primarily for the Aerospace and Energy (‘A&E’) markets.
The company’s processes and services include forging, heat-treating, chemical processing, and machining. The company’s operations are conducted in a single business segment.
In October 2024, the company sold its European operations in order to streamline operational synergies and refocus on its core aerospace forging business. SIFCO Irish Holdings, Ltd., a wholly owned subsidiary of the company, entered into a Share Purchase Agreement (the ‘SPA’) pursuant to which it sold 100% of the share capital of C Blade S.p.A. Forging & Manufacturing, an Italian joint stock company located in Maniago, Italy, and a wholly-owned subsidiary of the company (‘CBlade’), for cash consideration.
Principal Products and Services
Operations
SIFCO is a manufacturer of forgings and machined components for the Aerospace and Defense, Energy, and Commercial Space markets. The company provides its customers with envelope and precision forgings, rough and finished machined components, as well as sub-assemblies. SIFCO services both original equipment manufacturers (‘OEM’), Tier 1 and Tier 2 suppliers, and aftermarket service providers with products that range in size from approximately 2 to 1,200 pounds.
SIFCO’s long-term plan is to seek to maintain a balance of military and commercial aerospace revenues, supplemented with revenue from energy, commercial space, and other adjacent market components. The company’s capabilities are focused on supplying critical components, consisting primarily of steel, high-temperature alloys, nickel alloys, titanium, and aluminum.
SIFCO operates primarily from two locations. SIFCO manufacturing facilities are located in Cleveland, Ohio, (‘Cleveland’) and Orange, California, (‘Orange’). SIFCO’s operations in Cleveland and Orange are AS 9100D and/or ISO 9001:2015 certified, and the company also holds multiple National Aerospace and Defense Contractors Accreditation Program (‘NADCAP’) certifications and site approvals from key OEM customers.
Products
SIFCO’s products are made primarily of steel, high-temperature alloys, nickel alloy, titanium, and aluminum. SIFCO’s product offerings include OEM and aftermarket components for aircraft and industrial gas turbine engines; steam turbine blades; structural airframe components; aircraft landing gear components; aircraft wheels and brakes; critical rotating components for helicopters; and commercial/industrial products. SIFCO also provides heat-treatment, surface-treatment, non-destructive testing, and select machining and sub-assembly of forged components.
SIFCO supplies new and spare components to the U.S. military for aircraft, helicopters, vehicles, and munitions. The company’s top programs include Blackhawk (H60), C-130, F-18, and F-35.
SIFCO supplies components for commercial aircraft, principally for large aircraft produced by Boeing and Airbus, and for general aviation.
SIFCO supplies components to the commercial space industry, which is rapidly evolving.
SIFCO supplies components to the semiconductor industry, for use in the manufacture of microchips. These components require very challenging material properties and purity. The company’s technical expertise has allowed SIFCO to gain customer certifications for a variety of materials in this application.
SIFCO supplies new and spare components to the energy industry. While alternative energy markets continue to strengthen, oil and gas prices are expected to rebound given rising gas prices from historic lows. SIFCO has positioned itself to be less dependent on OEM production, but with flexibility to address the demand cycle in this segment, as well as continuing to support the aftermarket.
Customers
During fiscal 2024, SIFCO had one direct customer that accounted for 15% of consolidated net sales; and 41% of the company’s consolidated net sales were from three customers and their direct subcontractors, which individually accounted for 15%, 15%, and 11% of net sales, respectively.
Non-U.S. Operations
The company’s products are distributed in the U.S., as well as non-U.S. markets.
History
SIFCO Industries, Inc. was founded in 1913. The company, an Ohio corporation, was incorporated in 1916.