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Precision Castparts To Acquire Primus International To Bolster Aerostructures Work

Defense Daily Staff Defense Daily Staff
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Precision Castparts Corp. [PCP] on Sunday said it has agreed to acquire Primus International for $900 million in cash in a move to significantly expand its position supplying aerostructures to original equipment manufacturers and Tier 1 supplier in the aerospace industry. The transaction is expected to close in the third quarter of 2011. Primus is currently held by the private equity firm Oak Hill Capital Partners. Primus’ sales were not disclosed, but the company has about 1,500 employees and does…

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