Precision Castparts Corp. [PCP] yesterday said it has agreed to acquire a small business unit from Rockwell Collins [COL] that makes seamless alloy and stainless steel pipes for the energy market and motor casings and other propulsion system components for the aerospace and defense market.
Terms of the deal were not disclosed. Rockwell Collins’ Rollmet business has 70 employees and is based in California.
Rockwell Collins said the divestiture allows it to focus its resources on growing core markets. The sale of Rollmet is expected to close by the end of September.