Bodycote plc, the UK listed global provider of thermal processing services, has acquired the heat treatment business of Curtiss-Wright Corporation for a total consideration of US$ 52 million.
The Curtiss-Wright Corporation comprises nine sites in Northern and Central USA serving a wide range of industries but with a particular focus on commercial aerospace and oil & gas, accounting for 34% of sales. It also features some key automotive accounts that account for 20% of sales.
Commenting on the acquisition, Stephen Harris, CEO of Bodycote plc stated, “We are delighted to be acquiring this heat treatment business, which fits extremely well with our existing organisation and our overall strategy. Adding these nine sites to Bodycote’s existing 35 US plants provides significant additional capability and a broader customer base in key regions.”
“The acquisition includes three sites in Wichita, Kansas providing Bodycote with a major presence in this strategically important aerospace industry hub. The facility in Lafayette, Louisiana provides access to the buoyant oil & gas market in this part of the United States, while the five northern plants fit well with Bodycote’s automotive and general industrial network, enhancing service to existing customers and extending our geographic coverage”.
With more than 170 accredited facilities in 27 countries, Bodycote is the world’s largest provider of thermal processing services including heat treatment, metal joining, surface technology and Hot Isostatic Pressing (HIP).
Posted by: Paul Whittaker, Editor ipmd.net, [email protected]