Alcoa AA 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.
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.
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