Ex-Cell-O Buys TRW Division With Plants In Ohio, Pa. and Ga.
TROY, Mich. (AP) _ Ex-Cell-O Corp. will buy the compressor components division of Cleveland- base d TRW Inc. for a price to be determined within two months, the companies said Monday.
The division, with annual sales of $100 million and 1,700 employees, makes jet engine components.
″This acquisition supports our strategy of broadening our aerospace customer and product base, and it brings us added experience and state-of-the- ar t facilities that complement our existing business,″ said E. Paul Casey, Ex-Cell-O president and chief executive officer.
The purchase price will be determined at the closing, expected within 60 days, the companies said.
Ex-Cell-O had $1.14 billion in sales last year and said $414 million came from its aerospace and defense business. The company also makes precision products for automotive and industrial applications.
TRW’s compressor components division operates manufacturing plants in Cleveland, Ohio; Danville, Pa.; and Thomasville, Ga.
TRW sales last year totaled about $6 billion.