June 22, 2012
Precision Aerospace components acquires FDMC
Precision Aerospace Components, a growing provider of fasteners and components to the military and aerospace industries under its Freundlich Supply and Tiger-Tight companies, has acquired the assets of Fastener Distribution and Marketing Company, (FDMC). FDMC is the parent company of Aero-Missile Components, (AMC) and Creative Assembly Systems, (CAS). AMC provides fasteners and other components to the military and aerospace industries; CAS provides fasteners, tooling and other products to the transportation, housing infrastructure and white goods markets. Richard McVaugh, a respected fastener industry executive and the President of FDMC, who has overseen the growth of AMC and CAS will assume the role of President of each of the Precision Aerospace subsidiaries. In the upcoming 12 months, the combined companies anticipate producing over $33m in revenues and an operating profit (before any expenses associated with the acquisition and taxes) of over $3m.