TransDigm Group Incorporated TDG, a leading global designer, producer and supplier of highly engineered aircraft components, announced today that it has completed the divestiture of its fastener businesses to Alcoa Inc. AA for approximately $240 million.
These businesses, which were acquired in December 2010 as part of the McKechnie Aerospace acquisition, are made up of Valley-Todeco Inc. and Linread Ltd. The businesses design and manufacture fasteners, fastening systems and bearings for commercial, military and general aviation aircraft.
Total after tax cash proceeds from this transaction are estimated to be approximately $170 million.
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