Reuters 27 June 2013
Precision Castparts Corp said it would buy France’s Permaswage SAS for $600 million to expand its product range of airplane components, a deal that comes just months after a major acquisition of a titanium alloy maker.
The deal, which is expected to be completed in the second quarter of fiscal 2014, would immediately add to Precision Castparts’ earnings, the company said.
The company has been active in acquisitions, announcing in November its purchase of Titanium Metals Corp, a leading maker of alloys used in jet engines, for $2.9 billion.
It also bought Canadian manufacturer Héroux-Devtek Inc’s aerostructure and industrial products operations for C$300 million ($295.32 million) in cash last year.
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Precision Castparts says to buy Permaswage for $600 million
