Alcoa Set To Buy TransDigm Group’s

Aluminum maker Alcoa （AA.N） said it will buy TransDigm Group’s （TDG.N） aerospace fastener business for about $240 million. Alcoa, the largest U.S. aluminum producer, said the deal, expected to complete in the first quarter, will add to its earnings and cash flow in the first year. TransDigm’s fastener manufacturing facilities make high-strength, high temperature nickel alloy specialty engine fasteners, airframe bolts and slotted entry bearings. TransDigm, an aircraft parts maker, acquired the fastener business when it bought rival McKechnie Aerospace in December for about $1.27 billion.