LAI, a worldwide supplier of precision components and subassemblies for original equipment manufacturers, completed the acquisition this month, creating a combined company of 240 employees with projected 2007 revenues of more than $46 million.

Rich specializes in high-speed CNC machining, five-axis CO2 laser processing, and electrical discharge machining, including wire, plunge and hole-drilling EDM processing. The company also offers five-axis grinding, welding, conventional machining and certified gage calibration.

The acquisition offers the company growth potential in aerospace, medical device and power generation markets.

"In combining LAI and Rich, we have created a world-class contract manufacturing company with the best people in the business, the capabilities our customers need and a vision for growth," Stewart Cramer, president of LAI, said. "We are very excited about our future."