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. Precoat Metals, a North American industry leader, coats coiled steel for construction, residential, and industrial projects. In late 2012, Sequa sold its Sequa Automotive Group -- which made airbag inflators for many OEMs and featured CASCO Products as a tier one automotive supplier -- to investment firm The Jordan Company.
Chromalloy's gas turbine engine parts and repair services, which generate more than $1 billion in revenue annually, cater largely to operators in commercial aviation (the vast majority of its revenues), as well as military and energy- related industries worldwide.
Precoat Metals coats coiled steel for use in construction and residential and industrial projects.
Sequa has plants and sales offices in nearly 20 countries 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 completed 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. 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.
Growing its capacity, in 2013 Chromalloy expanded its investment casting foundry in Tampa, Florida to include a master alloy operation, both to increase internal supply and to sell to products to other turbine component manufacturers.
That year Chromalloy also signed repair and supplier agreements with Honeywell, covering aircraft engine components and engineering services for parts, and special coating processes.
Mergers and Acquisitions
In 2013 the company purchased UK-based turbine component maker Trac Group to bolster its new engine supply chain. Trac Group serves the aerospace and energy industries from production facilities in Mexico and the UK.