Precision Castparts Corporation is back in the acquisition mode with an agreement to buy an aerospace machining specialist, Aerospace Dynamics International, for $625 million.
"ADI is an acquisition we have pursued for several years," stated PCP chairman and CEO Mark Donegan. "They have invested in world-class facilities and developed large part capabilities that will expand our aerostructures product offering and role on next-generation aircraft.
Portland-based PCC produces complex metal components for aerospace and energy markets, with three divisions that focus on forgings, investment castings, and fasteners and airframes. From 2010 through 2013, the company conducted a series of acquisitions that expanded its position in the aerospace materials and components supply chain — capped by its $2.9-billion purchase of the integrated titanium metal producer, Timet.
PCP is the holding company for several forging operation, including Wyman-Gordon Forgings, Special Metals, and Timet. ADI is expected to source work from the group’s various forging and casting operations.