The 2020 Mid-Year Economic Update_long

Alcoa Acquires Fastener Manufacturers

New York-based Alcoa Inc. has acquired Republic Fastener Manufacturing Corp. and Van Petty Manufacturing. The two aerospace fastener manufacturing businesses are in Newbury Park, CA, and employ a combined 240 people.
 
Since it was founded in 1968, Republic has maintained its focus on the super standard" end of the aerospace fastener locknut product line. Along with its "Boots Aircraft Division"acquired from Cherry Fasteners in 1989, Republic offers a wide variety of sheet metal and wrenchable aerospace fasteners used by every major airframe manufacturer around the world.
 
Van Petty has been producing high performance precision aerospace fasteners used primarily by engine &equipment manufacturers since 1943. Their products include a variety of specialized ...

New York-based Alcoa Inc. has acquired Republic Fastener Manufacturing Corp. and Van Petty Manufacturing. The two aerospace fastener manufacturing businesses are in Newbury Park, CA, and employ a combined 240 people.
 
Since it was founded in 1968, Republic has maintained its focus on the super standard” end of the aerospace fastener locknut product line. Along with its “Boots Aircraft Division”acquired from Cherry Fasteners in 1989, Republic offers a wide variety of sheet metal and wrenchable aerospace fasteners used by every major airframe manufacturer around the world.
 
Van Petty has been producing high performance precision aerospace fasteners used primarily by engine &equipment manufacturers since 1943. Their products include a variety of specialized aerospace fasteners. The two businesses had combined 2007 revenues of $51 million.
 
Alcoa Fastening Systems (AFS), a business unit of Alcoa, is a designer and manufacturer of fastening systems, specialty fasteners, components, and installation systems for aerospace and commercial product assembly. Headquartered in Torrance, CA, the company has 6,600 employees, and operates at 26 locations in nine countries. AFS has grown revenues 15% annually since 2004. The business has also recently expanded its production footprint with facilities in Suzhou, China; Acuna, Mexico; and Nemesvamos, Hungary.
 
Alcoa aerospace revenues have grown from $1.5 billion in 2002 to more than $3.7 billion in 2007. Alcoa businesses serving the aerospace market include: Alcoa Fastening Systems, Alcoa Power and Propulsion which includes investment castings and forgings in aluminum and specialty metals such as titanium; and Alcoa’s sheet, plate and hard alloy extrusions businesses serving the structures market.

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