Precision Castparts purchased Aerospace Dynamics International for $625 million in cash.
Precision Castparts purchased Aerospace Dynamics International for $625 million in cash.
The market thought Precision’s move was smart. But it continues a pattern in which the company acquires firms it thinks will strengthen its position as a leading aerospace contractor while lowering the costs of making parts.
From the company’s last Q-1 statement, filed in January, here’s a condensed list of the company’s recently closed acquisitions. They show not only Precision’s acquisitive nature, but just how far-flung the company’s operations have become:
- On October 31, 2013, we acquired Permaswage SAS, a world-leading designer and manufacturer of aerospace fluid fittings, for approximately $600 million in cash, funded by commercial paper borrowings. The company operates manufacturing locations in Gardena, California; Paris, France; and Suzhou, China, and employs approximately 680 people.
- On April 2, 2012, we acquired RathGibson LLC. RathGibson manufactures precision thin-wall, nickel-alloy and stainless steel welded and seamless tubing. RathGibson operates three facilities in Janesville, Wisconsin; North Branch, New Jersey; and Clarksville, Arkansas. The RathGibson acquisition was an asset purchase for tax purposes and operates as part of the Forged Products segment.
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