Posted June 14, 2011
Precision Castparts acquires Tru-Form
Precision Castparts Corp. has agreed to acquire the rings operations of Unison Engine Components (Tru-Form) from GE Aviation, an operating unit of GE.
Tru-Form manufactures flash-welded and cold-rolled rings for jet engine and gas turbine applications, including spacer rings, combustion casings and liners, LPT casings, and fan cases. Tru-Form employs approximately 275 people across its three locations in Wilkes-Barre and Mountaintop, Penn., and Tyseley, England.
"Tru-Form broadens our forged product range, adding flash-welded and cold-rolled rings to our portfolio," said Mark Donegan, chairman and chief executive officer of Precision Castparts Corp. (PCC). "Tru-Form, which supplies all major engine OEMs, has exposure to every major commercial aircraft in production today. We have pursued this transaction with GE for over a year and are excited to bring these operations into the PCC family."
The assets comprising Tru-Form are being acquired for cash, and the transaction will be immediately accretive to earnings.
Precision Castparts Corp. is a worldwide, diversified manufacturer of complex metal components and products, and producer of fasteners for aerospace and other general industrial markets.
