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Precision Castparts Corp. (NYSE:PCP), Portland, OR, has agreed to acquire the assets of PB Fasteners.
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PB is manufacturer of fastener products for airframe applications, including the development of the SLEEVboltfastening system. The company's sleeve bolt technology is aimed at mitigating the impact of lightning strikes on the Boeing 787 aircraft. Located in Gardena, CA, 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 Mark Donegan, CEO of Precision Castparts Corp.. "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."
Precision Castparts Corp. is a manufacturer of complex metal components and products. It serves the aerospace, power, and general industrial markets.