Boeing [BA] yesterday said it has agreed to acquire Summit Aeronautics Group, a small firm that manufactures titanium and other hard metal structures for commercial and military aircraft.
Terms of the deal were not disclosed. Boeing said the pending acquisition, which is expected to close this year, will not have a material impact on its financial results in 2010 or 2011.
Summit currently performs hard metal machining on 747-8 aircraft fail-safe bards, which allow the flaps to move on the wings, 787 edge frames that fit around the doors, and 767 main-landing-gear beams.
Boeing said that the acquisition will give it increased flexibility to support increased aircraft production rates.
“It [also] grows our capacity to manufacture titanium and other hard metals structures in support of current and future airplane production requirements,” Ross Bogue, vice president and general manager of Boeing Fabrication, said in a statement.
Montana-based Summit has 135 employees. Boeing Fabrication will manage Summit.