Jun 11 2009
Alcoa Fastening Systems (AFS) announced today that it is continuing its global growth strategy and has completed the acquisition of assets from Demicron SNC, which will be integrated into the AFS organization as Alcoa Fixations Maroc. Demicron SNC operates from a single location in Casablanca with less than 50 employees.
Demicron SNC has a solid reputation within the European aerospace industry as a quality manufacturer of precision specialty machined aerospace parts, complex progressive dies, forging and stamping tools; and has been a reliable partner to AFS for more than two years. Terms were not disclosed.
"The acquisition of business assets from Demicron SNC and integration with AFS as Alcoa Fixations Maroc present unique opportunities in support of our AFS European aerospace growth initiatives. It provides AFS a strong platform for rapid expansion of our presence in the European specialty machined aerospace parts segment," said Olivier Jarrault, President of Alcoa Fastening Systems. "It also provides ready access to available and experienced manufacturing capacity, in close proximity to our Western Europe aerospace operations, that will benefit AFS and our customers through improved affordability and capacity, in support of the Airbus A 350 launch and as the markets turn around."
AFS expects to complete the integration by year end, and will continue to look for similar synergistic opportunities that bring value to its long-term manufacturing plan.