Precision Castparts Corp. has acquired Aerospace Dynamics International in Valencia for $625 million in cash.
Precision, in Portland, Ore., will make Aerospace Dynamics part of its Airframe Products segment. The company had been part of Marvin Group, a privately held aerospace and defense engineering and manufacturing company based in Inglewood.
ADI, with more than 600 employees, manufactures structural airframe pieces and wing and fuselage panels for passenger aircraft made by Chicago-based Boeing Co. and Airbus SAS, of Toulouse, France.
Precision Castparts has pursued ADI for the last several years, said Precision’s Chief Executive Mark Donegan.
“They have invested in world-class facilities and developed large-part capabilities that will expand our aerostructures product offering and role on next-generation aircraft,” Donegan said in a prepared statement. “ADI also adds another leverage point to our growing presence in Southern California.”
Precision Castparts owns four other companies in the San Fernando and Santa Clarita valleys.