Alcoa acquires aerospace fastener business of aircraft components maker TransDigm for US$240M; transaction includes one facility in California, two in the U.K.

Lorena Madrigal

NEW YORK , March 10, 2011 (press release) – Alcoa (NYSE:AA - News) announced today it has completed the acquisition of the aerospace fastener business of TransDigm Group Inc., a global designer, producer and supplier of highly engineered aircraft components. The business will become part of Alcoa Fastening Systems (AFS), a leading worldwide designer and manufacturer of specialty fastening systems, components, and installation tools for aerospace and industrial applications.

“We are excited to bring such a highly regarded business into our portfolio where our combined product offerings and innovative design capabilities will create added value for our customers and shareholders,” said Vitaliy Rusakov, President, Alcoa Fastening Systems. “This acquisition is a pivotal step in our strategy to expand our global footprint in the growing aerospace fastener market.”

The transaction is valued at $240 million and is expected to be earnings and cash flow accretive in the first year. Citigroup Global Markets Inc. served as a financial advisor for the transaction.

Approximately 400 people are employed at TransDigm’s three aerospace fastener facilities in Sylmar, California; and Redditch and Leicester, both of the United Kingdom. A wide variety of high-strength, high-temperature nickel alloy specialty engine fasteners, airframe bolts and slotted entry bearings are produced at the facilities.

AFS, a business unit of Alcoa, is headquartered in Torrance, California and operates 29 facilities in 10 countries with over 5,500 employees.

About Alcoa

Alcoa is the world’s leading producer of primary and fabricated aluminum, as well as the world’s largest miner of bauxite and refiner of alumina. In addition to inventing the modern-day aluminum industry, Alcoa innovation has been behind major milestones in the aerospace, automotive, packaging, building and construction, commercial transportation, consumer electronics and industrial markets over the past 120 years. Among the solutions Alcoa markets are flat-rolled products, hard alloy extrusions, and forgings, as well as Alcoa® wheels, fastening systems, precision and investment castings, and building systems in addition to its expertise in other light metals such as titanium and nickel-based super alloys. Sustainability is an integral part of Alcoa’s operating practices and the product design and engineering it provides to customers. Alcoa has been a member of the Dow Jones Sustainability Index for nine consecutive years and approximately 75 percent of all of the aluminum ever produced since 1888 is still in active use today. Alcoa employs approximately 59,000 people in 31 countries across the world. More information can be found at www.alcoa.com.

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