BAY SHORE, N.Y.—Aerospace and defence products manufacturer Air Industries Group has reached an agreement to acquire 100 per cent of the stock and the business of a jet turbine component manufacturer based in New England.
The unnamed target company makes aerospace components for aircraft and land-based jet turbines. Its components are used in Pratt & Whitney, General Electric and Siemens jet turbine engines.
The transaction, scheduled to close in February, is subject to a shareholder vote and other conditions.
The assets to be acquired include a 75,000 square foot manufacturing facility. Management and employees will be retained, and it is anticipated that the company will be operated as a separate subsidiary of Air Industries Group.