Specialty aerospace fastening systems and installation tools manufacturer Alcoa, which has 29 operations in 10 countries, announced that it had reached an agreement with aircraft component supplier TransDigm to acquire its subsidiary fastener division for US$0.24 billion. President of Alcoa says this action can accelerate the growth of the company, increase efficiency, expand technological field, introduce new production lines, and add stockholders’ values. The transaction will be reviewed first before it is approved and all the procedures will be completed in Q1 2011.

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