Heroux Devtek Inc Completes Sale Of Substantially All Aerostructure And Industrial Products Operations To Precision Castparts Corp

Heroux Devtek Inc announced that it has completed the sale of substantially all of its Aerostructure and Industrial Products operations to Precision Castparts Corp. Unless otherwise indicated, all amounts are in Canadian dollars. The transaction is for a cash consideration of $300.0 million, subject to post-closing adjustments. Assets acquired by Precision Castparts Corp. include Héroux-Devtek's Dorval (Quebec), Querétaro (Mexico) and Arlington (Texas) Aerostructure manufacturing sites, as well as the Cincinnati (Ohio) Industrial Products manufacturing sites. The assets sold generated sales of $126.8 million for the fiscal year ended March 31, 2012.