Precision Castparts (PCC) says that it has yet to decide whether to keep Wyman-Gordon's Scaled Composites subsidiary once its acquisition of the forgings specialist is complete. Senior PCC executives visited the Burt Rutan-run prototyping operation at the end of May.
PCC, which produces structural and airfoil castings for gas turbine engines, announced last month that it is to buy Grafton, Massachusetts-based forgings specialist Wyman-Gordon for $825 million cash in a deal that will strengthen the Oregon-based company's position in the aircraft engine and airframe structural components markets.
Wyman-Gordon owns Scaled Composites, based in Mojave, California, and its Colorado-based Scaled Technology Works production arm.
The company acquired Rutan's operation in the 1980s, but it accounts for only a "few per cent" of Wyman-Gordon's revenues, according to PCC.
Wyman-Gordan achieved sales of $753 million and profits of $33.9 million ,while PCC reported profits of $103 million on sales of $1.4 billion. The figures were a record for both companies.
Source: Flight International
