Alcoa announced it has agreed to purchase the aerospace fastener business of TransDigm Group Inc., a leading global designer, producer and supplier of highly engineered aircraft components. The new business will become part of Alcoa Fastening Systems. The transaction, which is expected to be completed during the first quarter of 2011, is valued at approximately $240 million. The three TransDigm fastener manufacturing facilities are located in Sylmar, Calif.; and Redditch and Leicester, both of the U.K.

TransDigm’s facilities, which employ a combined 400 people, provide a wide variety of high-strength, high-temperature nickel alloy specialty engine fasteners, airframe bolts and slotted entry bearings. According to Alcoa, the TransDigm global aerospace fastener business offers a strong portfolio of complementary products and is well known in the aerospace industry for producing highly engineered precision fastening solutions used for critical airframe, engine and equipment applications.