Released on August 27, 2008

Precision Castparts Corp., Portland, Ore., has agreed to acquire Airdrome Holdings LLC, which produces aerospace parts out of its machining facilities Airdrome Precision Components, Long Beach, Calif., and AF Aerospace Ltd., Rugby, U.K.

The cash acquisition is expected to be completed in the third quarter of fiscal 2009.

Airdrome Precision supplies hydraulic and pneumatic fluid fittings primarily for airframe applications. AF manufactures a variety of machined components for aerospace applications, including fittings and other fluid conveyance products and high tensile bolts. The companies produce parts in nickel, titanium and stainless steel alloys.

“The acquisition of Airdrome continues to expand and enhance our critical aerospace fastener product portfolio,” said Mark Donegan, chairman and chief executive officer of Precision Castparts.  “[Airdrome Precision] provides an immediate entry into the fluid fittings market segment, while AFA nicely complements our U.K. fastener operations, TJ Brooks and SPS Aerostructures, both in product families and sales channels.”