Precision Castparts Announces Acquisitions
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.