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Alcoa To Acquire Aerospace Fastener Business of TransDigm Group

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Alcoa [AA] yesterday said it has agreed to acquire the aerospace fasteners business of TransDigm Group for $240 million in a deal aimed at accelerating its growth in the fastening business. "This acquisition is an important step for Alcoa Fastening Systems," Vitaliy Rusakov, president of Alcoa Fastening Systems, said in a statement. "It is a part of our strategic plan to accelerate the growth of our business, add efficiencies, broaden our technology base and expand our product offering to better…

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