Precision Castparts Agrees to Buy Aerospace Fastener Producer

$110 million for Shur-Lok

Precision Castparts Corp. reports it has agreed to buy Shur-Lok Corp. and Shur-Lok International Inc. for $110.0 million in cash. Shur-Lok is a manufacturer of engineered aerospace fasteners, including barrel nuts, bearing lock nuts, composite fasteners, expandable diameter fasteners, honeycomb sandwich inserts, ring-locked fluid fittings, and ring-locked inserts and studs. It operates plants in Irvine, CA, and Petit-Rechain, Belgium.

Precision Castparts produces structural investment castings, airfoil castings, and forged components used in jet aircraft engines and industrial gas turbines. Its products are

The transaction for SLC, which is expected to be treated as an acquisition of assets for tax purposes, should generate approximately $30 million in tax savings over the next 15 years, which are worth approximately 17 percent of the total acquisition price on a present value basis.

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