Precision Castparts Corp. Acquires Ring Roller

Aug. 26, 2009
Carlton Forge Works expands group's aerospace market reach
Precision Castparts Corp. will acquire Carlton Forge Works and its holdings, extending the forger and investment caster’s presence in the aerospace industry to include manufacturing of seamless rolled rings. PCC chairman and CEO Mark Donegan called Carlton “a critical strategic asset that we have aggressively pursued for several years.” The purchase is valued at $850 million, according to Portland, OR-based PCC. Donegan said the new holdings will broaden the group’s forging capabilities and allow both organizations to approach customers that they could not reach separately. Carlton, of Paramount, CA, produces seamless rolled rings in nickel, titanium, and steel for critical aircraft and gas turbine applications. It is said to produce the widest range of ring sizes in the industry. Included in the takeover is Arcturus Manufacturing Corp., a hammer forging operation in Oxnard, CA. According to Donegan, "Ring rolling has been a distinct gap in our product portfolio, and Carlton, the technology leader in that market, will enable us to provide a full range of products to our engine customers. Carlton has also been very successful in building its market positions on all major programs currently in development, including the Boeing 787 and Airbus XWB. Precision Castparts’ Forged Products group includes Wyman-Gordon Forgings, which has a range of open- and closed-die forging capabilities, hydraulic press operations, and finishing and processing equipment, at its various locations in the U.S., Mexico, and Europe. Its Special Metals group produces nickel-alloy raw materials for forging and processing. "Our Wyman-Gordon forging operations will share best practices with Carlton, and we can bring Special Metals' and Caledonian's strengths to bear in significantly reducing Carlton's material cost structure,” Donegan detailed. “In addition, with seven other PCC manufacturing operations in southern California, we will be able to leverage our growing economies of scale in that region."