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Precision Castparts expands in aerospace
Precision Castparts Corporation agreed to acquire Airdrome Airdrome’s results will be reported as part of the Fastener Products
Holdings LLC (Airdrome), which consists of Airdrome Precision segment.
Components (APC) and AF Aerospace Ltd. (AFA). Precision Castparts reported strong fastener sales growth during
Rugby, England-based AFA manufactures ultra-high tensile bolts, fiscal 2008, with revenue jumping 25% to US$1.52 billion. Operating
fittings and other fluid conveyance products for aerospace income soared 47% to US$384.2 million.
applications. "Our base aerospace business rests on a firm foundation, noted
Southern California-based APC supplies hydraulic and pneumatic
Donegan for the annual report, "and we look forward to the growth
fluid fittings primarily for airframe applications. Fluid fittings,
that will be driven by such programs as the Airbus A380, the Boeing
manufactured in nickel, titanium, and stainless steel alloys, are the
787, the F-35 fighter, and the KC-X tanker."
critical connectors for hoses transporting fuel, hydraulic fluid, and
In just over three years, Portland, OR-based Precision Castparts has
pneumatic pressure throughout an aircraft.
forged a US$1.5 billion fastener division that includes Cherry
“The acquisition of Airdrome continues to expand and enhance our
Aerospace, Air Industries and Shur-Lok. Precision Castparts assembled
critical aerospace fastener product portfolio,” CEO Mark Donegan
its fastener division by acquiring SPS Technologies in 2003 for US$893
pointed out. "APC provides an immediate entry into the fluid fittings
market segment, while AFA nicely complements our UK fastener
million and airframe fastener manufacturer AIC in early 2005 for
operations, TJ Brooks and SPS Aerostructures, both in product families
US$194 million.
and sales channels. Both of the Airdrome operations have significant
PCC also manufactures thread rolling dies and header tooling for
growth opportunities, and we expect to realize operational synergies
fastener machinery. PCC supplies structural and airfoil components for
and benefits from economies of scale given our existing aerospace
the aircraft engine and industrial gas turbine industries and has
fastener facilities located near both APC and AFA.”
diversified into non-aerospace businesses.
The acquisition is subject to regulatory approvals and expected to
The company has more than 80 facilities in 22 states and 16
be completed in the third quarter of fiscal 2009, after which countries. Web: precast.com
China fastener
ASTM updates metals
export growth
slump continues & alloys UNS text
China exports of steel and copper fasteners
slowed to a 3.7% rate of increase to 250,000 tons
ASTM International published a new edition of its Metals & Alloys in the
in June, with the value growing 25% to
Unified Numbering System (UNS) in print and online.
US$397.49 million, Xinhua News Agency reports.
The compilation includes 5,000+ UNS numbers, 11,800 trade names and alloy
Overall fastener export growth has slowed in
designations, and 13,300 specification cross-references.
2008, which included an 8.3% drop in exports to
Jointly developed by ASTM and SAE International, the UNS correlates
150,000 tons during February 2008, compared with a
internationally used metal and alloy numbering systems currently administered by
66% jump in exports during February 2007. Fastener
exports in March rose 0.1% to 190,000 tons,
societies, trade associations, individual users and producers of metals and
compared with a 40% growth rate a year earlier. And
alloys.
April's rate of growth was 0.3% to 240,000 tons,
Specifications include AA, ASME, ASTM, AWS, CDA, ISO, NACE and SAE.
compared with a 39% growth rate during April 2007.
New features in the 11th edition include 4,500 new trade names and seven new
During the first six months of 2008, fastener
fields of chemical element search capabilities.
exports from China grew 3.4% to 1,290,000 tons, with
The 600-page book costs US$195 and the online edition is US$390.
the export value increasing 25.7% to US$1.95 billion. For information e-mail:
service@astm.org Web: astm.org
Sundram takes direct stake in windpower
Sundram Fasteners has acquired 52.9% stake in Sundram Non-conventional Energy Systems (SNES), a wind power firm in India, for an
unspecified sum.
SNES was a subsidiary of Sundram Fasteners Investments Ltd. and Upasana Engineering Ltd. both wholly-owned subsidiaries of Sundram
Fasteners.
During the second quarter Sundram reported sales rose 22% to 3.6 billion rupees (US$85.6 million), while net profit was cut by half, with
income dropping 49.7% to 128.6 million rupees (US$3.03m).
Chennai, India-headquartered Sundram has manufacturing plants in India, Germany, the UK and China and an assembly operation in
Malaysia. Web: sundram.com
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