ACQUISITION: Precision Castparts Acquires Drop Dies & Forgings
January 24
00:00
2001
John Wolz
Precision Castparts Corp. acquired the Drop Dies & Forgings Company for $23 million.\
Cleveland, OH-based Drop Dies & Forgings was founded in 1919 and manufactures specialty forgings in difficult-to-forge metals. It supplies the aerospace, transportation, chemical processing and semiconductor industries.
CEO William McCormick of PCC said Drop Dies broadens the Wyman-Gordon Forgings business. Drop Dies produces small hammer-forged components. Drop Dies� sales are estimated at $28 million annually.
Portland, OR-based Precision Castparts manufactures metal components and products. PCC owns two fastener tooling companies � Reed-Rico and Astro Punch.
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