Precision Castparts Inc. (PCC) may have decided upon its next
Ore.-based supply chain company received an "early termination"
ruling by the U.S. Federal Trade Commission for a transaction
involving Exacta Aerospace Inc., according to the FTC, although
no further details were available on whether a transaction has
actually taken place.
announced any acquisition, and neither a spokesman for PCC nor
an Exacta executive could be reached for comment.
Under provisions of
the Hart-Scott-Rodino Act, large companies are required to
provide the FTC and the Justice Department with information
about mergers and acquisitions before they occur, according to
the FTC website. The filing starts a 30-day waiting period, or
15 days for all-cash tender offers, although the agencies can
issue an early termination notice, cutting these waiting
While no further
information was available, the FTC early termination notice is
thought to refer to Wichita, Kan.-based Exacta Aerospace, which
describes itself as a family run business that manufactures
parts and components, sheet metal details, kits and assemblies
for the aircraft industry.
Industry sources said
that PCC had shown an interest in acquiring Exacta.
sales are estimated by website Manta.com as $20 million to $50
million. Industry observers speculated that any takeover of
this comparatively small size by PCCwhich had sales of
$2.4 billion in the three months ended June 30would
probably be viewed as a "bolt-on" acquisition, augmenting
PCC has been one of
the aerospace supply chains most active buyers during the
past few years, and lately has been emphasizing the so-called
aerostructures market, which includes machining and component
manufacturers and which chairman and chief executive Mark
Donegan has described as "fragmented," or ripe for
In a quarterly
earnings conference call last month, Donegan said PCC remains
"extremely active" on the mergers and acquisition front and
could "probably deploy" $1.5 billion to $2 billion in the next
couple of years, although not all of it at one time (
amm.com, July 25).