Jason Sandefur

Precisions Castparts Expands with Fatigue Technology Acquisition
Precision Castparts Corp. agreed to acquire Seattle-based Fatigue Technology Inc.
In 1969, FTI pioneered the cold expansion process, which extends fatigue life in both metal and composite airframe fastener holes. The cold expansion process involves radial expansion of an existing hole, imparting residual compressive stress around the hole, and extending fatigue life. All products manufactured by FTI, including split sleeves, bushings, rivetless nut plates, blind nuts, and fittings, utilize the cold expansion process in their installation and are specified by the airframe manufacturer to obtain the desired fatigue life benefits. Web: fatiguetech.com
“The acquisition of FTI continues our efforts to grow and enhance our critical aerospace fastener product offering,” CEO Mark Donegan said. “The company fits squarely with all our core competency targets, and its sales are nearly 100% to the aerospace market. FTI is the technology leader in fatigue life extension for airframe applications, and we will look to leverage their expertise and knowledge base across our other fastener businesses.”
The cash acquisition is subject to regulatory approvals and expected to be completed in the third quarter of fiscal 2009, after which FTI’s results will be reported as part of the Fastener Products segment.
Earlier in the quarter PCC added to its fastener group by agreeing to acquire Airdrome Holdings LLC (Airdrome), which consists of Airdrome Precision Components (APC) in Southern California and Rugby, England-based AF Aerospace Ltd. (AFA).
AFA manufactures ultra-high tensile bolts, fittings and other fluid conveyance products for aerospace applications.
APC supplies hydraulic and pneumatic fluid fittings primarily for airframe applications. Fluid fittings, manufactured in nickel, titanium, and stainless steel alloys, are the critical connectors for hoses transporting fuel, hydraulic fluid, and pneumatic pressure throughout an aircraft.
PCC reported strong fastener sales growth during fiscal 2008, with revenue jumping 25% to $1.52 billion. Operating income soared 47% to $384.2 million.
In less than four years, Portland, OR-based PCC has forged a $1.5 billion fastener division that includes Cherry Aerospace, Air Industries and Shur-Lok. PCC assembled its fastener division by acquiring SPS Technologies in 2003 for $893 million and airframe fastener manufacturer AIC in early 2005 for $194 million.
PCC also manufactures thread rolling dies and header tooling for fastener machinery. PCC supplies structural and airfoil components for the aircraft engine and industrial gas turbine industries and has diversified into non-aerospace businesses. The company has more than 80 facilities in 22 states and 16 countries. Web: precast.com

Scott Brass Sold to Sun Capital
Cranston, RI-based Scott Brass Inc., which manufactures brass and copper strip for fasteners and other products, has been sold to private investment firm Sun Capital Partners Inc. for an undisclosed sum.
“The announcement of the sale came just days after the company’s Mishawaka, Ind., plant shuttered its doors without explanation and left 78 employees without jobs,” reports Anne Riley of American Metal Market.
Scott Brass officials reportedly have blamed the shutdown on “tanking copper prices and the financial struggles at the company’s bank.”
Scott Brass CEO Barry Golden will keep his position.
“The entire senior management team of Scott Brass will remain intact,” Golden emphasized.
Boca Raton-based Sun Capital Partners has invested in more than 200 companies since 1995, with combined sales exceeding $40 billion. Web: suncappart.com
Founded in the 1950s, Scott Brass is a fully integrated mill producing high-quality brass and copper alloy strip for electronic and automotive connectors, fasteners and other products. Web: scottbrass.com �2008 FastenerNews.com