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Alcoa Fastening Systems - AFS Release date: June 11, 2009
TORRANCE, Calif.--Alcoa Fastening Systems (AFS) announced today that it is continuing its global growth strategy and has completed the acquisition of assets from Demicron SNC, which will be integrated into the AFS organization as Alcoa Fixations Maroc. Demicron SNC operates from a single location in Casablanca with less than 50 employees. Demicron SNC has a solid reputation within the European aerospace industry as a quality manufacturer of precision specialty machined aerospace parts, complex progressive dies, forging and stamping tools; and has been a reliable partner to AFS for more than two years. Terms were not disclosed.
"The acquisition of business assets from Demicron SNC and integration with AFS as Alcoa Fixations Maroc present unique opportunities in support of our AFS European aerospace growth initiatives. It provides AFS a strong platform for rapid expansion of our presence in the European specialty machined aerospace parts segment," said Olivier Jarrault, President of Alcoa Fastening Systems. "It also provides ready access to available and experienced manufacturing capacity, in close proximity to our Western Europe aerospace operations, that will benefit AFS and our customers through improved affordability and capacity, in support of the Airbus A 350 launch and as the markets turn around."
AFS expects to complete the integration by year end, and will continue to look for similar synergistic opportunities that bring value to its long-term manufacturing plan.
Alcoa Fastening Systems, a business unit of Alcoa (NYSE:AA), is a leading worldwide designer and manufacturer of specialty fasteners, nut and frangible collar systems, fluid fittings, assembly components and installation tools for aerospace and commercial applications. Headquartered in Torrance, California, the company has more than 6,000 employees, and manufactures at 21 locations in 9 countries. AFS also operates 7 worldwide distribution/logistics centers providing value-added services.
Company Information:
Name: Alcoa Fastening Systems - AFS
Address: 3000 W. Lomita Blvd.
City: Torrance
State: CA
ZIP: 90505
Country: USA
Phone: 800-992-4444
FAX: 805-527-0900
http://www.alcoafasteners.com
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