Precision Castparts Corp., a Portland, OR-based manufacturer of complex metal components and products, will acquire Composites Horizons (CHI, Covina, CA, US) from American Industrial Partners (New York, NY, US).
CHI is an independent supplier of high temperature carbon and ceramic composite components, including ceramic matrix composites (CMC), for use in aerospace engines. Using proprietary and patented technologies, CHI manufactures specialized, performance-critical components with exceptional strength and high-temperature tolerance, thus allowing aircraft engines to operate with higher fuel efficiency and lower emissions. The company has positions across the key next-generation commercial platforms, including A320neo, 737 MAX, 777X, 787, and A350 XWB. CHI operates from one site in Covina, CA, and employs approximately 200 people.
"Driven by their temperature and weight capabilities, the demand for composite and CMC components in aircraft engines is expected to expand over the next decade," said Mark Donegan, chairman and CEO of Precision Castparts. "With capability across multiple classes of CMCs and composites, and with multi-year relationships with all the engine OEMs, CHI is in a strong position to capitalize on growth opportunities. In combination with CHI, PCC is now able to offer our engine customers a range of metallic and CMC material capability to meet any requirement. We are confident that CHI's culture of innovation and proven ability to scale will strengthen PCC's position as a strategic technology partner to all major aero-engine manufacturers."