Consolidated Precision Products (CPP), a manufacturer of highly engineered components and sub-assemblies primarily for the commercial aerospace and defense markets, reached a definitive agreement to acquire Selmet Inc. Selmet, which manufactures titanium castings and machined components for the aerospace and defense industries, operates a state-of-the-art investment casting foundry in Albany, Ore.

The acquisition will allow Cleveland, Ohio-based CPP to expand its offerings to include titanium castings. CPP currently produces complex superalloy, aluminum, magnesium and steel castings.