Chandler-based Alexco LLC, a manufacturer of hard alloy extrusions for the aerospace industry, will be purchased by Foothill Ranch, Calif.-based Kaiser Aluminum Corp. for approximately $90 million, the companies announced this week .
Kaiser said it entered into a definitive agreement to purchase substantially all of the assets of Alexco, 6520 W. Allison Road. Kaiser will fund the purchase with existing cash.
The transaction is anticipated to close in December.
Alexco will position Kaiser in a market segment that complements its sheet, plate, cold-finish and drawn-tube products for aerospace applications, said Jack Hockema, Kaiser chairman, CEO and president.
The Chandler facility will continue to be operated by its current management team, Hockema said.
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