PCC to snap up aero forger from GE
Jun 14, 2011 | 05:29 PM
| Frank Haflich
LOS ANGELES Precision Castparts Corp. (PCC) plans to buy Unison Engine Components from General Electric Co. (GE), an acquisition that would fill yet another niche in PCCs leading aerospace forgings portfolio.
Portland, Ore.-based PCC plans to acquire Unison better known as Tru-Formby the end of the month. Tru-Form is currently part of GE Aviation, an operating unit of General Electric, PCCs largest customer, according to documents filed recently with the U.S. Securities and Exchange Commission (SEC).
PCC did not release details of the proposed cash deal, but Boston-based equity research firm Cowen and Co. said PCC would likely pay $275 million to $300 million for the forgings producer, whose annual sales it estimates at around $140 million. ....
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