Alcoa to Acquire Aerospace Parts Maker for $2.85 Billion By...

Alcoa to Acquire Aerospace Parts Maker for $2.85 Billion
By David Welch, Kiel Porter and Sonja Elmquist Jun 26, 2014 1:16 PM GMT+0200

Alcoa Inc. (AA), the largest U.S. aluminum producer, agreed to buy U.K. aerospace-components maker Firth Rixson Ltd. for about $2.85 billion in stock and cash as it expands further into downstream manufacturing.
Alcoa will pay $2.35 billion in cash and $500 million in stock for Firth Rixson, which is owned by private-equity firm Oak Hill Capital Partners LP, the New York-based aluminum company said today in a statement.
Alcoa’s downstream businesses serve aerospace customers as well as automakers and the construction industry. Alcoa has been investing in those operations while closing unprofitable smelters amid a global oversupply of raw aluminum.
In April, Alcoa raised its 2014 forecast for growth in aluminum sales in the aerospace industry to as much as 9 percent, citing demand for large commercial aircraft and regional jets. It kept its projection for the increase in total global demand for the metal at 7 percent.
Firth Rixson was acquired by Oak Hill and Neuberger Berman Group LLC for 945 million pounds ($1.6 billion) in 2007. The sellers in that transaction were Lehman Brothers Holdings Inc. and Carlyle Group LP

I wonder if this helps AWC !!!!!!!  Zess