Precision Castparts To Acquire Aerospace Dynamics For $625 Mln

(RTTNews) - Precision Castparts Corp. (PCP), a manufacturer of metal components and products for the aerospace, power, and general industrial markets, Thursday said it has agreed to acquire Aerospace Dynamics International from The Marvin Group for $625 million, in a bid to expand its aerostructures product offering and role on next-generation aircraft.

ADI is a supplier of machined parts and assemblies to the Aerospace and Defense industries. It operates from one site in Valencia, California and employs around 625 people.

The transaction is expected to be completed during the first quarter of fiscal 2015. Precision Castparts said the deal will immediately add to its earnings.