Howmet Aerospace agreed to buy aircraft fastener maker Consolidated Aerospace Manufacturing from Stanley Black & Decker for about $1.8 billion in an all-cash deal, the companies said on Monday. The acquisition adds a high-volume aerospace fastener supplier to Howmet’s portfolio.
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Briefing
Transaction detail: Howmet will acquire Consolidated Aerospace Manufacturing, a supplier of aircraft fasteners, from Stanley Black & Decker for about $1.8 billion in cash.
This deal is part of ongoing consolidation in aerospace industrial and supplier assets, similar to recent transactions such as AAR's acquisition of HAECO Americas.
The change of ownership of a major fastener supplier will alter the supplier landscape for OEMs, MROs and defense contractors that rely on high-volume, mission-critical hardware.
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Howmet’s $1.8B Purchase of Consolidated Aerospace Manufacturing Aims to Shore Up Strained Supply Chain • flightplan.forecastinternational.com
Reuters
• Aatreyee Dasgupta