Precision Castparts Corp agrees acquisition of Centra Industries.
Metal components specialist Precision Castparts Corp (PCC) (NYSE:PCP) announced on Sunday that it has entered into an agreement to acquire Canadian aerostructures manufacturer Centra Industries for an undisclosed cash sum.
The addition of Centra is expected to be immediately accretive to PCC's earnings.
Centra manufactures various machined airframe components and assemblies in both aluminum and hard metals and its core competencies include the high-speed machining of complex, high-precision structures, sub-assembly and kit integration. Based in Cambridge, Ontario, the company has approximately 400 employees.
According to Mark Donegan, chairman and CEO of PCC, Centra has established solid market share on growing commercial aircraft programmes including the 787, 777, 747-8 and A380.
Following the acquisition Centra's results will be reported as part of the Fastener Products segment.
The transaction is expected to be completed during the first quarter of fiscal 2013.
Precision Castparts Corp is a leading manufacturer of large, complex structural investment castings, airfoil castings, forged components and highly engineered, critical fasteners for aerospace applications. The company also makes airfoil castings for the industrial gas turbine market as well as extruded seamless pipe, fittings, forgings and clad products for power generation and oil & gas applications; commercial and military airframe aerostructures; and metal alloys and other materials for the casting and forging industries.
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|Publication:||Airline Industry Information|
|Date:||May 7, 2012|
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