Precision Castparts To Buy Composites Horizons For Undisclosed Terms

(RTTNews) - Precision Castparts Corp (PCP), a provider of metal components to the aerospace and other industries, on Monday said it has agreed to buy Composites Horizons LLC from American Industrial Partners. The financial terms of the deal were not disclosed.

The deal, expected to close in the second quarter of fiscal 2016, will be immediately accretive to earnings, Precision Castparts said.

Composites Horizons is a supplier of high temperature carbon and ceramic composite components, including ceramic matrix composites, for use in next-generation aerospace engines. The company operates from one site in Covina, California, and employs about 200 people.