Monday, November 26, 2012
Precision Castparts Acquires Synchronous Aerospace Group
Precision Castparts acquired commercial aerospace and defense mechanical assemblies supplier Synchronous Aerospace. The two companies did not disclose the financial details of the cash acquisition, which is expected to be complete in December.
Precision said the acquisition can help to expand its aerostructures capabilities and strengthen its airframe products segment.
“Their gantry capabilities will enable us to manufacture larger components and to machine as many as four to five parts simultaneously. In addition, we can pull in house the fasteners, forgings, and castings that Synchronous currently purchases on the outside. We will also gain synergies from the proximity of Synchronous locations to many of our existing operations,” said Mark Donegan, chairman and CEO at Precision Castparts.