8/8/2012 12:05:00 AM
NEWS BRIEFS
Precision Castparts Completes Klune Industries Acquisition
Precision Castparts Corp. completed its acquisition of aerostructures manufacturer Klune Industries for an undisclosed cash sum.
North Hollywood, CA-based Klune will be added to PCC’s Fastener Products segment, which reported $1.7 billion in revenue during fiscal 2012, which ended April 1.
PCC CEO Mark Donegan noted the fastener synergy in announcing the agreement.
“Like Centra and Primus before that, Klune expands our reach into the widely fragmented aerostructures market,” stated Donegan.
“(Klune) 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.”
Donegan said Klune facilities in California and Washington are located close to existing PCC aerostructures plants, giving PCC “operational and geographical leverage.”
“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,” Donegan added.
Klune manufactures aluminum, nickel, titanium, and steel aerostructures, with a focus on complex forming, machining, and assembly of aerostructure parts. The company employs about 740 workers at three facilities: North Hollywood (sheet metal forming and assemblies); Spanish Fork, UT (investment castings, machining, assemblies and processing); and Kent, WA (machining, assemblies and processing). ©2012 GlobalFastenerNews.com
Related Stories:
• Precision Castparts Continues to Expand Fastener Segment
Related Links:
Share: