Cleveland’s Consolidated Precision Products Corp. has reached a definitive agreement to acquire Selmet Inc. Terms of the transaction were not disclosed. With the acquisition of Selmet, an Albany, Oregon-based manufacturer of complex, titanium castings and machined components for the aerospace and defense industries, CPP will expand its offering to include titanium castings. Selmet's current management team will remain upon closing of the transaction to help drive continued growth. "This highly complementary acquisition will round out our product offering to include titanium castings, enabling us to meet the strong demand from customers seeking advanced titanium content for next-generation platforms,” CPP CEO James Stewart said in a statement. “We are pleased to welcome the talented Selmet team to the CPP family."
