5/7/2012 1:34:00 AM
NEWS BRIEFS
Precision Castparts Expands Aerostructures Capacity
Precision Castparts Corp. agreed to acquire aerostructures manufacturer Centra Industries located in Cambridge, Ontario.
The cash transaction, which is expected to close in the first quarter of fiscal 2013, will add Centra to PCC’s Fastener Products segment.
Founded in 1974, Centra manufactures machined airframe components and assemblies in aluminum and hard metals. Core competencies include the high-speed machining of complex, high-precision structures, sub-assembly, and kit integration.
The company has 400 non-union employees.
“The acquisition of Centra further grows our presence in the fragmented aerostructures market,” said PCC CEO Mark Donegan. “The business broadens the range of our core capabilities, which will enable us to position our expanding product line in the facility best suited to the job.”
“In addition, Centra has already established solid market share on growing commercial aircraft programs, such as the 787, 777, 747-8, and A380, and, in concert with our existing aerostructures operations, the opportunities for share gain are plentiful.”
In its most recent financial report, PCC reported sales in its Fastener Products division grew 35% to $463.2 million in the third quarter of fiscal 2012. Approximately $100 million of this sales growth came from the recent acquisitions of Primus Int’l and PB Fasteners. Q3 operating income increased 18.4% to $124.1 million.
Sequentially, PCC Fastener Product sales included a 5% moderate base aerospace increase, offset by a general industrial sales decline of 10%.
Nine-month Fastener Products sales increased 23% to $1.23 billion, with segment operating income gaining 13% to $344.6 million. ©2012 GlobalFastenerNews.com
Related Stories:
• “Great Recession” Leaves Leaner Fastener Industry
• Report: U.S. Fastener Industry Sees Resurgence
• Precision Castparts Expands Forged Products Capabilities
Related Links:
Share: