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 15, 2014

News: Navy identifies pilot presumed dead in crash - A Navy fighter pilot presumed dead after two fighter jets crashed in the far western Pacific Ocean has been identified.   Business: Boeing eyes 737-700 solution for new JSTARS - Boeing is officially planning a variant of its 737-700 commercial jetliner as a competitor for the Air Force’s...
 
 

News Briefs September 15, 2014

Australia contributing planes for anti-IS campaign Australia is preparing to contribute 600 troops and up to 10 military aircraft to the increasingly aggressive campaign against the Islamic State extremists in Syria and Iraq, Prime Minister Tony Abbott said Sept. 14. Abbott said Australia was responding to a formal request from the United States for specific...
 
 
Courtesy graphic

Lockheed Martin conducts flight tests of aircraft laser turret for DARPA

AFRL photograph The Aero-adaptive Aero-optic Beam Control turret that Lockheed Martin is developing for the Defense Advanced Research Projects Agency and the Air Force Research Laboratory has completed initial flight testing. T...
 

 

Lockheed Martin advances live, virtual, constructive training in flight test

https://www.youtube.com/watch?feature=player_embedded&v=jvXmOW8L3mU Lockheed Martin successfully tested a new solution for integrated live, virtual and constructive training during a flight demonstration at the company’s Aeronautics facility in Fort Worth, Texas. During the flight test, a pilot flying in a live F-16 engaged in a synthetic training exercise with a pilot flying as wing...
 
 
Image courtesy of NASA/JPL-Caltech/Univ. of Arizona

NASA’s Mars Curiosity rover arrives at Martian mountain

NASA’s Mars Curiosity rover has reached the Red Planet’s Mount Sharp, a Mount-Rainier-size mountain at the center of the vast Gale Crater and the rover mission’s long-term prime destination. “Curiosity n...
 
 

Raytheon begins full rate production on TALON Laser Guided Rockets

Under a $117 million contract awarded to Raytheon, Raytheon Missile Systems has begun production of the TALON Laser Guided Rocket. In 2013, the Armed Forces General Headquarters of the United Arab Emirates awarded Tawazun a contract to procure the TALON Laser Guided Rocket. “Full rate production of the TALON LGR is a significant milestone for...
 




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>