s With Acquisition of Centra Industries (US)
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Precision Castparts worker inspects an aircraft engine part. The company is benefiting from an upswing in the aerospace business, which accounts for more than half its sales.(Credit Photo @ JOHN LOK / THE SEATTLE TIMES )
CAMBRIDGE — Centra Industries, one of this area’s most successful and rapidly growing aerospace companies, has been sold to Precision Castparts Corp. of Portland, Ore. While Centra may have a new owner, it will be business as usual at the Cambridge-based company which has two plants on Cherry Blossom Road. “Our entire leadership team stays in place, including myself,” Centra president David McIntyre said Monday. Centra is keeping its name and will act as an “autonomous operation” of Precision Castparts, he added. The price of the transaction, which was announced Monday and is expected to close before the end of June, was not disclosed. McIntyre, Centra’s majority shareholder, said the sale was made because the company needed to expand to remain competitive and compete for larger projects in the aerospace industry. “Centra still is a fairly small fish in the sea,” he said. “We were seeing opportunities that were just too big for a company our size.” Aircraft manufacturers such as Boeing, Bombardier, Airbus and Lockheed-Martin, all customers of Centra, are looking to partner with larger and more integrated
