Precision Aerospace Components, a supplier of components and fasteners to the aerospace and military industries, declared that it has purchased the assets from Fastener Distribution and Marketing Company, (FDMC), which is the parent company of Creative Assembly Systems, (CAS) and Aero-Missile Components, (AMC).
CAS offers tooling, fasteners and other products to housing infrastructure, transportation and white goods markets, while AMC supplies fasteners and other parts for use in the aerospace and military industries.
The Chief Executive Officer and President of Precision Aerospace Components, Andrew Prince stated that all four operating firms have been streamlined through this latest acquisition deal, which offers access to larger combined resources catering to a wider addressed market. The company is delighted to unite these two management teams in order to achieve long-term goals, said Prince.
According to FDMC’s President, Richard McVaugh, this acquisition will serve customers of all the four operating companies. FDMC is looking forward to provide better services to present as well as future clients.
Precision Aerospace along with its subsidiaries Freundlich Supply Company, AMC and CAS will be operating across the US and will offer a responsive and knowledgeable quality fastener solution to fulfill the requirements of customers and also extend the necessary support to launch the revolutionary Tiger-Tight locking washer, which has been fabricated domestically. This lock washer can hold tightly and does not damage the surface material on which it is holding.
The joint companies are expecting to make more than $33 million in revenues and over $3 million as operating profit, in the next 12 months.
Source: http://www.precaeroinc.com/
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