Alcoa moves further downstream with $2.85bn Firth Rixson purchase

Alcoa has taken a large stride downstream with the acquisition of UK-based aerospace components manufacturer Firth Rixson for $2.85 billion.

Under the terms of a definitive agreement signed by the company, Alcoa will purchase Firth Rixson from Oak Hill Capital Partners for $2.35 billion in cash, plus $500 million of company stock, and potentially an additional $150 million in earnout payments. “The acquisition of Firth Rixson is a major milestone in Alcoa’s transformation,” ceo Klaus Kleinfeld said in a statement. “This transaction will bring together some of the greatest innovators in jet engine component technology; it will...

Published

Jethro Wookey

June 26, 2014

13:43 GMT

London