Rockwell Collins reaches deal to sell Rollmet line

Rockwell Collins has reached agreement to sell its Rollmet line of pipe and propulsion system components.

Precision Castparts Corp. of Portland, Ore., has agreed to acquire the Rollmet line of products in a deal that the companies expect to complete in the fourth quarter of Rockwell Collins' fiscal year pending regulatory approvals.

Rollmet has about 70 employees in Irvine, Calif. It supplies extruded alloy and stainless steel piping used in the oil and gas industries, as well as motor cases for missle programs.

Terms of the deal were not disclosed.

Precision Castparts is also acquiring Houston-based KLAD Manufacturing, a supplier of weld overlay applications including pipe and tube, as well as large vessels. It plans to operate both as part of its Energy Products Group.

Rockwell Collins chairman and president Clay Jones in prepared remarks that the the ownership change will better align Rollmet with its end markets. He said the divestiture will also allow Rockwell Collins to focus more resources on growing its core markets.