Precision Castparts to acquire RathGibson
Janesville, Wis.-based welded, stainless steel and alloy tubing manufacturer RathGibsonagreed March 8 to be acquired byPrecision Castparts Corp.The deal is pending regulatory approval.
Precision Castparts – based out of Portland, Ore. – is a worldwide manufacturer of metal components and products in the aerospace, power and general industrial markets.
RathGibson makes precision engineered straight lengths, coil and U-Bend tubing for the power generation, oil and gas, chemical and beverage industry among others. CEOMark G. Essigsees a strong future for RathGibson with its new business partners.
“Operating as part of PCC will allow RathGibson to accelerate its growth plans and offer a more complete product capability to the market. We look forward to capitalizing on the opportunities that this strategic partnership will offer,” said Essig.
RathGibson’s manufacturing plants are located in Janesville, Wis.; North Branch, N.J.; and Clarksville, Ark. (Greenville Tube). Sales offices are located in Janesville and North Branch, as well as, Shanghai, China; Mumbai, India and Vienna, Austria.