Precision Castparts Corp., a U.S.-based manufacturer of complex metal components and products, agreed to acquire Primus International for $900 million in cash. Bellevue, Wash.-based Primus is a leading supplier of complex components and assemblies to the global aerospace industry, including swaged rods, advanced composites, and machined aluminum and titanium components. The company also supplies metal alloys and other materials to the forging and casting industries. The transaction is expected to be completed in the second quarter of fiscal 2012.
Primus focuses on commercial aerospace platforms including Boeing 737, Boeing 777, Boeing 787 and Airbus 320. Product applications include wing, fuselage and engine-related assembly, passenger and exit doors, and actuation and flight-control assemblies. The company employs approximately 1,500 people across seven manufacturing locations, including three in the Seattle, Wash., area, as well as Tulsa, Okla.; Suzhou, China; Bangkok, Thailand; and Farnborough, England.
Precision Castparts Acquires Airplane Parts Supplier
July 19, 2011