Precision Castparts Corp (PCC), a complex metal components and products manufacturer, has entered into an agreement to take over Aerospace Dynamics International (ADI) from The Marvin Group in a deal worth $625m.

ADI specialises in complex components, hard metal machining and critical assemblies for the aerospace industry, and operates high-speed machining centres.

The company runs from a facility in Valencia, California, and has a workforce of 625.

The acquisition will strengthen PCC’s aerostructures product offering as well as its presence in next-generation aircraft platforms.

PCC chairman and CEO Mark Donegan noted that ADI adds another leverage point to the company’s growing presence in Southern California.

"The transaction is subject to the receipt of regulatory approvals, and is expected to close in the first quarter of 2015."

"The PCC Aerostructures team, led by Andrew Masterman and Joe Snowden, will aggressively work with other PCC locations to provide the fasteners, forgings, and castings that ADI currently purchases on the outside, and look to drive additional opportunities to optimise capacity and cost decisions across our aerostructures businesses," said Donegan.

The transaction is subject to the receipt of regulatory approvals, and is expected to close in the first quarter of 2015.

The company expects the acquisition to be immediately accretive to earnings.

PCC produces complex structural investment castings, airfoil castings, forged components, aerostructures and critical fasteners for aerospace applications, and also caters to the power, gas turbine and general industrial sectors.

Defence Technology