8-KOther Events

Howmet Aerospace Inc. 8-K Report (Jul 17, 2002)

Filed July 17, 2002For Securities:HWM

Summary

This 8-K filing from Alcoa Inc. (which was the parent company of Howmet Aerospace at the time, as Howmet was spun off later) on July 17, 2002, announces a significant strategic acquisition. Alcoa has agreed to purchase the assets of Fairchild Fasteners, a key player in the aerospace fastener market, from The Fairchild Corporation for $657 million in cash. This acquisition signals Alcoa's intent to expand its aerospace-related business segments and strengthen its position within the supply chain for the aerospace industry. The transaction, valued at a substantial cash amount, includes detailed agreements such as the Acquisition Agreement, Voting Agreements, and Non-Competition and Consulting Agreements with key individuals, underscoring the comprehensive nature of the deal and Alcoa's commitment to integrating Fairchild Fasteners effectively.

Key Highlights

  • 1Alcoa Inc. has entered into an agreement to acquire the assets of Fairchild Fasteners.
  • 2The transaction is valued at $657 million in cash.
  • 3Fairchild Fasteners is described as a leading supplier of aerospace fasteners.
  • 4The acquisition is expected to bolster Alcoa's presence in the aerospace sector.
  • 5The filing includes the Acquisition Agreement, Voting Agreements, and Non-Competition Agreements as exhibits.
  • 6The acquisition was agreed upon on July 16, 2002.

Frequently Asked Questions

The acquisition of Fairchild Fasteners, a leading supplier of aerospace fasteners, is strategically important for Alcoa as it allows the company to expand its footprint and strengthen its position within the aerospace industry's supply chain. This move indicates Alcoa's commitment to growing its aerospace-related business segments.

Alcoa Inc. has agreed to acquire the assets of Fairchild Fasteners for a total cash consideration of $657 million.

The key agreements filed with this 8-K include the Acquisition Agreement between Alcoa and The Fairchild Corporation, Voting Agreements with stockholders of The Fairchild Corporation (including Eric I. Steiner and Jeffrey J. Steiner), and Non-Competition and Consulting Agreements with Jeffrey Steiner and Eric Steiner.

Alcoa announced its agreement to acquire Fairchild Fasteners on July 17, 2002, with the key agreements, including the Acquisition Agreement, dated as of July 16, 2002.