Precision Castparts buys Carlton Forge for $850 million

Aerospace supplier Precision Castparts Corp.  has agreed to acquire Carlton Forge Works (Carlton) and related entities for $850 million, the company said yesterday.

Carlton, founded in 1929 is a leading manufacturer of seamless rolled rings, primarily used in aircraft engine and gas turbine applications.

The Paramount, California-based company offers nickel, titanium, and steel rolled rings across the widest range of product sizes in the industry.

''Carlton is a critical strategic asset that we have aggressively pursued for several years,'' said Mark Donegan, chairman and chief executive officer of Precision. 

''Ring rolling has been a distinct gap in our product portfolio, and Carlton, the technology leader in that market, will enable us to provide a full range of products to our engine customers. 

Carlton has also been very successful in building its market positions on all major programs currently in development, including the Boeing 787 and Airbus XWB,'' he added.