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Precision Castparts to acquire Airdrome Holdings LLC

Published in Airline Industry Information on
Thursday, 28 August 2008
Copyright (C) 2006, M2 Communications Ltd.

Precision Castparts Corp (NYSE: PCP) announced on 27 August that it had reached an agreement to acquire Airdrome Holdings LLC (Airdrome), a company with two subsidiaries, Airdrome Precision Components (APC) and AF Aerospace Ltd (AFA).

APC is located in Long Beach, California while AFA is in Rugby, England. Both companies are involved in the manufacture of aircraft components used in fluid assemblies such as fuel or hydraulic lines.

No financial details of the cash acquisition were disclosed but it will reportedly be immediately accretive to earnings for Precision Castparts and is expected to be completed by the third quarter of fiscal year 2009.

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