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.


 
 

 

Boeing, Royal Australian Air Force test extended range weapon

The Boeing Joint Direct Attack Munition Extended Range demonstrated significant range increase while maintaining its expected accuracy during flight testing conducted by Boeing and the Royal Australian Air Force. The testing centered on a new wing kit that, when used in conjunction with the weaponís guidance kit, increases the bomb’s range from approximately 15 miles...
 
 

DRS Technologies to provide comm systems for Royal New Zealand Navy frigates

DRS Technologies Inc., a Finmeccanica Company, announced Feb. 25 that its Canadian subsidiary will be providing tactical integrated communications systems to the New Zealand Ministry of Defense for the Royal New Zealand Navy’s ANZAC-class frigates. This subcontract was awarded to DRS Technologies Canada Ltd. in support of a communications modernization contract from Lockheed Martin Canada...
 
 

Northrop Grumman LITENING achieves two million operating hour milestone

In the life cycle of every military system, some milestones stand out as signature achievements. One million operating hours is one of them – and Northrop Grumman’s fielded AN/AAQ-28(V) LITENING pods have hit that number for the second time. “This is a significant milestone for the LITENING program and our team is proud to be...
 

 

Boeing to intensify technical career development for engineering workforce

Boeing Feb. 25 is implementing a plan to renew its focus on the companyís engineers worldwide by dedicating the first two of new Engineering Career Development Centers that would serve as training grounds for its technical workforce. Over the next year, leading up to Boeingís 100-year anniversary in 2016, the company will open a dozen...
 
 
Raytheon-AMRAAM

Raytheon unveils extended range AMRAAM

Raytheon has begun development on an extended range variant of the combat-proven Advanced Medium Range Air to Air Missile. Designed specifically for ground-based air defense, AMRAAM-ER will enable intercepts at longer range and...
 
 

Upgrades boost ballistic missile defense radar’s performance during missile raid

The U.S. and its friends and allies will soon have improved defenses against ballistic missile raids – large quantities of simultaneously impacting ballistic missiles. Raytheon has upgraded the computer processor of the AN/TPY-2 ballistic missile defense radar, enabling the system to both perform better during raids and to more quickly and accurately discriminate between a...
 




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>