Precision Castparts Corp. agreed to acquire Klune Industries, a manufacturer of complex aluminum, nickel, titanium and steel aerostructures. Klune focuses on complex forming, machining and assembly of aerostructure parts. The company employs around 740 people and operates facilities in North Hollywood, Calif.; Spanish Fork, Utah; and Kent, Wash. Klune purchases castings, forgings and fasteners, which will now be supplied internally. The transaction is expected to be completed during the second quarter of fiscal 2013, after which Klune's results will be reported as part of the Fastener Products segment.
In other news, Precision Castparts Corp. agreed to acquire
certain aerostructures business units and McSwain Manufacturing from
Heroux-Devtek Inc. Heroux-Devtek's aerostructures operations manufacture a wide
variety of components and assemblies from aluminum, aluminum-lithium and
titanium. The aerostructures operations include Progressive Machine in
Arlington, Texas, as well as plants in Dorval, Canada, and Queretaro, Mexico.
McSwain, headquartered in Cincinnati, Ohio, specializes in turning, milling and
drilling. These four facilities employ a total of 440 people. The transactions
are expected to be completed during the second quarter of fiscal 2013. The
aerostructures businesses will be reported as part of the Fastener Products
segment, while McSwain will become part of the Forged Products segment.
Precision Castparts Announces Acquisitions
July 31, 2012