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.


 
 

 
NG-people2

Northrop Grumman names VP, mission assurance for Electronic Systems sector

Northrop Grumman has appointed Sonal B. Deshpande vice president of mission assurance for the company’s Linthicum-based Electronic Systems sector. In this position, Deshpande is responsible for mission assurance across th...
 
 
sikorsky-raider

Sikorsky S-97 Raider helicopter achieves successful first flight

Sikorsky Aircraft Corp., a United Technologies Corp. subsidiary, announced May 22 the successful first flight of the S-97 Raider™ helicopter, a rigid coaxial rotor prototype designed to demonstrate a game-changing combination...
 
 
NG-people

Northrop Grumman appoints VP, program manager ISR division

Northrop Grumman announced it has appointed Steve Lunny, vice president and program manager for the intelligence, surveillance and reconnaissance division within the company’s Information Systems sector. Lunny will report...
 

 

HELLADS laser completes development

General Atomics Aeronautical Systems, Inc. announced May 21 that the High-Energy Liquid Laser completed the U.S. government acceptance test procedure and is now being shipped to the White Sands Missile Range, N.M. At WSMR, the laser will undergo an extensive series of live fire tests against a number of military targets.  GAASI is a leading...
 
 
boeing-transaero

Boeing delivers Transaero’s first Next-Generation 737-800

Boeing May 22 delivered Transaero’s first Next-Generation 737-800. The airplane, sporting a new livery, arrived at Moscow’s Domodedovo Airport. Boeing May 22 delivered Transaero’s first Next-Generation 737-800. The airpla...
 
 
Boeing photograph

Boeing-upgraded French AWACS take flight

Boeing photograph A French AWACS aircraft patrols the skies as part of a routine mission. The French AWACS fleet is in the midst of the Mid-Life Upgrade that modernizes the capabilities on board. Initial operating capability of...
 




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=""> <strike> <strong>