Precision Aerospace Components, Inc. [PAOS], last week said it has acquired Fastener Distribution and Marketing Company (FMDC), which provides fasteners to military, aerospace and other markets.
Terms of the deal were not disclosed. Precision Aerospace Components said it expects to have $33 million in sales and $3 million in operating profits during the next year.
FMDC has two subsidiaries, Aero-Missile Components, which provides fasteners and other components to the military and aerospace industries, and Creative Assembly Systems, which provides fasteners, tooling and other products to the transportation, housing infrastructure and white goods markets.
Precision Aerospace Components said the acquisition complements its existing businesses and will allow it to serve a broader market.