Business

July 2, 2012

Precision Castparts broadens aerostructures capabilities with acquisition

Precision Castparts Corp. has 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, in addition to offering significant expertise in a range of cold-formed sheet metal components.

The company, which operates facilities in North Hollywood, Calif.; Spanish Fork, Utah; and Kent, Wash., employs approximately 740 employees.

“Like Centra and Primus before that, Klune expands our reach into the widely fragmented aerostructures market,” said Mark Donegan, chairman and chief executive officer of Precision Castparts Corp. “Klune also offers significant synergies with our existing operations. Klune’s sheet metal and fabrication capabilities will be a major addition to our aerostructures product offering. “The company purchases castings, forgings, and fasteners, which can now be supplied internally, and their expertise in machining castings adds to the capabilities of our aerostructures companies. The Klune facilities in California and Washington are located very close to existing PCC aerostructures plants, enabling us to gain operational and geographical leverage. And, from a top-line perspective, Klune’s product line will significantly increase our dollar content on the Boeing 787, and they have solid positions on other major aircraft platforms, such as the Boeing 737 and Gulfstream G650.”

The cash acquisition will be immediately accretive to earnings. Subject to regulatory approvals, 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.




All of this week's top headlines to your email every Friday.


 
 

 
Virgin Galactic photograph

NTSB concludes SpaceShipTwo flight test accident investigation

Virgin Galactic photograph WhiteKnightTwo and the first SpaceShipTwo during a captive carry test flight over the Mojave Desert. MOJAVE, Calif.–The National Transportation Safety Board has concluded the investigation of th...
 
 

Headlines July 27, 2015

News: U.S.-Turkey deal aims to create de facto ‘safe zone’ in northwest Syria¬†– Turkey and the United States have agreed on the outlines of a de facto “safe zone” along the Turkey-Syria border under the terms of a deal that is expected to significantly increase the scope and pace of the U.S.-led air war against...
 
 

News Briefs July 27, 2015

Putin OKs maritime code calling for strong Atlantic presence Russian President Vladimir Putin has approved a new version of the country’s maritime doctrine that calls for maintaining a strong Russian presence in the Atlantic Ocean amid concerns about NATO expansion. The doctrine, which covers naval, merchant marine and scientific maritime issues, also adds the Antarctic...
 

 
Army photograph by SFC Walter E. van Ochten

U.S., Ukraine, Romania, Bulgaria train together at Rapid Trident 2015

Army photograph by SFC Walter E. van Ochten U.S. soldiers, of the 3rd Platoon, 615th Military Police Company, 709th Military Police Battalion, react as they conduct reacting to contact training as part of their situational trai...
 
 
nasa-astronaut

Astronaut Stephen Frick retires from NASA

Astronaut Stephen Frick has retired from NASA to accept a position in the private sector. Frick, who flew as both a shuttle pilot and commander, left the Agency July 13. Steve has been a great asset to the astronaut office and ...
 
 
Army photograph by Sgt. Juana M. Nesbitt

Estonian, US forces receive new jump wings

Army photograph by Sgt. Juana M. Nesbitt Pvt. Kalmer Simohov, of Parnu, a volunteer with the Estonian Defense League, receives his U.S. Army Airborne wings following the joint airborne operations exercise at a drop zone in Nurm...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>