Precision Castparts signs deals for 2 companies

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Associated Press

Posted on May 21, 2012 at 12:01 PM

PORTLAND, Ore. (AP) — Metal parts maker Precision Castparts Corp. said Monday that it has agreed on cash deals to buy Dickson Testing Co. and Aerocraft Heat Treating Co. Financial terms were not disclosed.

South Gate, Calif.-based Dickson offers a variety of testing services used in the manufacture of aerospace parts, while Paramount, Calif.-based Aerocraft provides heat treating services for titanium and nickel alloy forgings and castings used in the aerospace industry, along with other services, Precision Castparts said.

Portland, Ore.-based Precision, which makes metal parts for aerospace, power and general industrial markets, said Dickson and Aerocraft provide essential services to the aerospace industry, including many of its own manufacturing operations.

Precision said it expects the additions of the companies to immediately boost its profits. The deals, which remain subject to regulatory approval, are expected to close in the first quarter of fiscal 2013.

Dickson has about 110 employees, while Aerocraft has nearly 60, Precision said.

Precision Castparts closed at $167.48 on Friday. Its shares are closer to the high end of their 52-week range of $136.04 and $179.47 per share.

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