Precision Castparts acquires Carlton Forge Works and Arcturus

Precision Castparts Corp. (PCC) has agreed to acquire Carlton Forge Works and related entities for $850 million.

Carlton, a manufacturer of seamless rolled rings for aerospace applications, offers nickel, titanium and steel rolled rings across a range of product sizes in the industry. Founded in 1929, Carlton operates one facility in Paramount, California.

Said Mark Donegan, chairman and chief executive officer of Precision Castparts Corp, “Ring rolling has been a distinct gap in our product portfolio, and Carlton will enable us to provide a full range of products to our engine customers. Carlton has also been very successful in building its market positions on all major programs currently in development, including the Boeing 787 and Airbus XWB.

As part of the transaction, PCC will also acquire Arcturus Manufacturing Corporation (Arcturus), a hammer forging operation in Oxnard, California.

Subject to regulatory approvals, the acquisitions are expected to be completed during the third quarter of fiscal 2010, after which their results will be reported as part of the Forged Products segment.