Precision Castparts’ Fastener Segment Poised for Growth
FEATURE
Precision Castparts is catching lots of attention from industry analysts lately, in part due to the size and capacity of its Fastener Products segment.
In the past decade Precision Castparts has forged a powerhouse fastener division that includes Cherry Aerospace, Air Industries and Shur-Lok.
Precision Castparts assembled its fastener division by acquiring SPS Technologies in 2003 for $893 million and airframe fastener maker AIC in early 2005 for $194 million.
In May 2011 Precision Castparts agreed to acquire the assets of PB Fasteners.
Gardena, CA-based PB designs and manufactures fastener products for airframe applications, including the development of the SLEEVbolt fastening system. The company’s sleeve bolt technology is critical to mitigating the impact of lightning strikes on the Boeing 787 aircraft.
PB entered the aerospace fastener business in 1967.
“We have been looking at PB for a long time as part of our continued strategy to expand our critical aerospace fastener portfolio,” said PCC CEO Mark Donegan.
“PB provides the technology to accelerate our growth into composite-based aircraft like the 787, as well as other new, advanced aerospace platforms. We will look to leverage their knowledge base across our other fastener operations.”
“In addition, PB will now be our ninth fastener manufacturing operation in southern California, providing further opportunities for synergies and leverage.”
For the full report on PCC’s Fastener Products segment, subscribers can click HERE. The report is available to non-subscribers on the FIN Article Store.
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