Business

June 28, 2013

Precision Castparts expands fluid fittings capabilities with the acquisition of Permaswage

Precision Castparts Corp. has agreed to acquire Permaswage SAS, a world-leading designer and manufacturer of aerospace fluid fittings, for $600 million.

Permaswage’s primary focus is the design and manufacture of permanent fittings used in fluid conveyance systems for airframe applications, as well as related installation tooling.

The company has particular expertise in swaged fittings, which establish a permanent connection

between two tubes, and a growing presence in separable (threaded) fittings. Permaswage permanent fittings have been designed into virtually every major commercial and military aircraft program. The company operates manufacturing locations in Gardena, California; Paris, France; and Suzhou, China, and employs approximately 680 people.

“The acquisition of Permaswage continues our disciplined drive to enhance our value proposition to our airframe customers,” said Mark Donegan, chairman and chief executive officer of Precision Castparts Corp. “The company extends our reach into permanent fittings, building on the foothold in separable fittings we established with the acquisition of Airdrome. Permaswage has secured strong permanent fittings positions on key current and next-generation commercial aircraft platforms, and the long-term opportunities for profitable growth that we can derive from this acquisition are substantial.”

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 2014, after which its results will be reported as part of the Airframe Products segment.

 




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


 
 

 

Raytheon wins $46 million contract for South Korean Global Hawk ground stations

Raytheon has been awarded a contract valued at up to $45.7 million by Northrop Grumman Aerospace Systems for ground segments in support of four Global Hawk unmanned aircraft systems recently purchased by the Republic of Korea. Under this contract, Raytheon will deliver one building-based and one mobile ground segment to locations in South Korea. Work...
 
 

TOW 2A RF missiles successfully fired from helicopter

In the first of its kind launch, Raytheon fired tube-launched, optically-tracked, wireless-guided 2A radio frequency practice missiles from an AH-1W Cobra attack helicopter during a December exercise.  Raytheon, working with the Naval Air Systems Command, fired two TOW 2A RF practice missiles at ranges exceeding 2600 meters. The two tests verified the missile’s capability to...
 
 
NG-growler2

Northrop Grumman delivers center/aft ‘shipset’ for first international EA-18G Growler

Northrop Grumman photograph Northrop Grumman mechanics perform final quality inspections on the center/aft fuselage shipset produced by the company for the first Australian EA-18G Growler. The subassembly will be delivered to B...
 

 

Boeing, ANA finalize order for three 787-10 Dreamliners

Boeing and All Nippon Airways (ANA) today finalized an order for three 787-10 Dreamliners, valued at approximately $900 million at list prices. With this order, originally announced as a commitment in January 2015, ANA becomes Boeing’s newest 787-10 customer and first airline in Asia to operate the entire family of 787 Dreamliners. “We truly appreciate...
 
 

Poland’s MESKO, Raytheon sign second letter of intent

In a move designed to collaborate and share advanced defense technologies, Raytheon’s Missile Systems business signed a Letter of Intent with MESKO, Poland’s leading missile and ammunition manufacturer. Areas of cooperation focus on Raytheon’s solutions for the KRAB howitzer precision fires and new Polish Attack Helicopter, including offset proposals and opportunities for MESK...
 
 

Airbus Group delivers first new UH-72A Lakota for Army initial-entry trainer mission

Airbus Group March 25 delivered to the U.S. Army the first UH-72A Lakota helicopter to come off the Airbus Helicopters Inc. production line configured for the Lakota’s latest mission, as the service’s initial-entry training helicopter. The aircraft will join seven Lakotas previously in the Army inventory that have already been modified to the training configuration...
 




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>