Precision Castparts Corp. has made its second and third acquisitions this month, expanding the range of its product offerings and adding to its brand lineup. The Portland-based manufacturer is buying the Rollmet business, which makes a range of thin-wall pipe products; and KLAD Manufacturing, which supplies weld-overlay materials for pipe and tube products and large vessels.
Both companies will be acquired for cash. The value was not released.
Earlier in June PCC acquired Unison Engine Components from General Electric Corp. It manufactures flash-welded and cold-rolled rings for jet engine and gas turbine products.
Rollmet and KLAD will be business units in PCC's Energy Products Group, which as of now manufactures various forged products for the oil-and-gas and power-generation markets, including exploration, production, refining, pipelines, and petrochemical processing plants.
Rollmet developed a cold-roll extrusion process to manufacture precision thin-wall pipe in nickel alloys, stainless steel, aluminum, and carbon steel. These are produced a plant in Irvine, Calif., and used in oil-and-gas processing, as well as motor cases for missile programs.
“With this change in ownership, Rollmet will be better aligned with its end markets, which should enhance its strategic position,” stated Rockwell Collins chairman, president, and CEO Clay Jones. “This divestiture will also allow Rockwell Collins to focus more resources on growing our core markets.”
KLAD has a plant in Houston where it produces its weld-overlay products for pipe and tubular goods, as well as large vessels. In addition, KLAD has developed a proprietary process to produce a co-extruded pipe, consisting of a carbon steel pipe with a nickel alloy or stainless steel inner sleeve that can be used in various oil-and-gas applications.
"We are excited to bring both Rollmet and KLAD into the PCC Energy Group," stated PCC chairman Mark Donegan. "KLAD's co-extrusion process produces a unique pipe product for extreme oil and gas applications, utilizing nickel alloy from our Huntington operation and our Houston facility for extrusion.
“Rollmet's expertise in cold-working and thin-wall pipe greatly enhances our ability to penetrate the large diameter nickel casing market,” Donegan continued. “Both businesses broaden our product offering and market presence, capitalizing on the evolution of oil and gas production into more extreme operating environments."
Precision Castparts Buying Energy-Sector Manufacturers
Rollmet and KLAD add new technologies, expand pipeline product offerings