BELLEVUE, WA — Esterline Corporation announces an agreement to acquire Nylon Molding Corporation Group (NMC) for approximately $90 million. NMC is a designer and manufacturer of specialized fasteners for the aerospace/defense industry. Completion of the transaction is expected in 30 to 45 days, contingent upon Hart-Scott-Rodino approval and other customary closing conditions. Esterline will fund the acquisition with available cash.
"Nylon Molding fits perfectly within our Advanced Materials segment, extending our product offering to include specialized plastic and composite-adhesive-bonded fasteners," says Robert W. Cremin, Esterline's chief executive officer. "The transaction also continues our strategy to consolidate manufacturers of superior aerospace systems and components."
NMC, first incorporated in 1946, is a privately held company employing 100 people at its Pomona, CA, operation. Cremin said that NMC will continue to run as a stand-alone operation reporting to Esterline Engineered Materials in Brea, CA.
"Nylon Molding brings us a proven, top-notch management team and a strong engineering base," he says.
For more information visit www.esterline.com.