Keronite acquired in $35M deal
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North Carolinas-based Curtiss-Wright Corp. (NYSE: CW) says it has completed the acquisition of Keronite Group, a company based in the United Kingdom but its U.S. operations are in Greenwood. Keronite provides a coatings technology that offers corrosion protection and wear resistance in a variety of applications, including defense, aerospace and semiconductor manufacturing.
The cash deal is valued at $35 million.
Keronite uses a process called plasma electrolytic oxidation that produces ceramic layers on light alloys, such as aluminum and titanium. It improves the durability and provides improved performance similar to heavy materials, including steel and carbide.
“The acquisition of Keronite increases the breadth of our surface treatment services portfolio with unique and complementary coatings technologies recognized for their critical performance in severe service environments,” said Curtiss-Wright Chair and Chief Executive Officer Lynn Bamford.
Kerronite will operate within Curtiss-Wright’s Aerospace & Industrial segment.