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.


 
 

 

Headlines September 29, 2014

News: U.S. military limits warplanes used for Islamic State bombingsĀ - The U.S. is relying mostly on warplanes already positioned in the region for its air war against the Islamic State, as opposed to dispatching a major buildup of aerial forces that happened in previous campaigns.   Business: At DOD, it’s use-it-or-lose-it seasonĀ - As fiscal 2014...
 
 

News Briefs September 29, 2014

Navy awards ship design grant to UNO The University of New Orleans has received a $210,000 grant from the Navy s Office of Naval Research to test information gathering and analysis techniques intended to improve warship design. The goal for warship designers is to produce a vessel that can be repurposed numerous times throughout its...
 
 
Courtesy photograph

TACP-M ties it all together

Air National Guard photograph by SSgt. Lealan Buehrer Tactical air control party specialists with the 169th Air Support Operations Squadron survey an enemy-controlled landing zone before calling in close-air support Aug. 14, 20...
 

 
Air Force photograph by A1C Thomas Spangler

Nellis aggressor squadron inactivated

Air Force photograph by A1C Thomas Spangler SSgt. Justin White signals to Maj. Sam Joplin to begin taxiing a 65th Aggressor Squadron F-15 Eagle to the runway Sept. 18, 2014, at Nellis Air Force Base Nev. The roles and responsib...
 
 
Army photograph by SSgt. Mary S. Katzenberger

82nd Airborne helps commemorate 70th Anniversary of Operation Market Garden

Army photograph by SSgt. Mary S. Katzenberger A paratrooper assigned to the 82nd Airborne Division, reflects near the grave of a British paratrooper at the Arnhem Oosterbeek War Cemetery, Sept. 14, 2014, in the Netherlands. The...
 
 

Raytheon awarded $251 million Tomahawk missile contract

The U.S. Navy has awarded Raytheon a $251 million contract to procure Tomahawk Block IV tactical cruise missiles for fiscal year 2014 with an option for 2015. The contract calls for Raytheon to build and deliver Tomahawk Block IV cruise missiles to the U.S. Navy and U.K. Royal Navy. Raytheon will also conduct flight tests...
 




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>