Precision Castparts Corp announced that it would acquire privately held firm, Permaswage SAS. The deal was valued at US$600 million as a means of expanding its product range of airplane components. The planned acquisition came months after a major purchase of a titanium alloy manufacturer.
Permaswage SAS manufactures permanent fitting that are used for airframe applications.
The expected completion of the deal is said to transpire by second quarter of 2014. The company said that the completion of the acquisition process would immediately add to the earnings of Precision Castparts.
Precision Castparts Corp has been active in acquisitions. In fact, it has announced a major acquisition deal of Titanium Metals Corp last November. The alloy maker was acquired at a US$2.9 billion deal.
The company also bought the industrial and aerostructural products unit of the Canadian manufacturer Héroux-Devtek Inc. The acquisition was priced at US$295.32 million in cash last 2012.
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