Global Fastener News

September 10, 1996 FIN – Precision Castparts Corp. acquired Astro Punch Corporation of Santa Fe Springs, California, in a transaction valued at $6.5 million.

Astro Punch, founded in 1962, had been a direct competitor of the Rico line of Precision’s Specialty Products Division. Under the Reed-Rico name, the division designs and manufacture cold-forming tools for heading and threading, a well as machines in which the tools are installed.
“The acquisition of Astro Punch will give us a fourth facility from which we can more effectively serve the global marketplace,” according to a PCC statement. “Reed-Rico and Astro Punch are currently strong in different geographical locations.”
Reed-Rico, founded in 1916, has operations in Holden, MA; Bristol, RI; and Gaffney, SC.
Reed-Rico and Astro Punch will sell through a singular market channel.
Reed-Rico also announced it purchased the Hartford Flat Die Machine line from National Machinery in Tiffin, Ohio.
Precision Castparts is based in Portland, Oregon, and produces investment castings for aerospace and power generation, automotive and medical castings, metal injection-molded parts and metal-matrix composites for the electronics industry.
Precision Castparts is a publicly held corporation traded on the New York Stock Exchange. ©1996/2013 Fastener Industry News.
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