Rolls Royce PLC Buy HB Parts MakerTuesday, May 7, 2013
Huntington Beach-based aerospace parts maker Hyper-Therm High Temperature Composites Inc. has been acquired by Rolls-Royce PLC.
Financial terms of the deal were not disclosed.
Hyper-Therm, which makes high-temperature composite materials and engineered coatings, will become a wholly-owned subsidiary of Rolls-Royce and maintain its Huntington Beach operation.
London-based Rolls-Royce said it was attracted to the company’s line of composites used for gas turbine engines, which it manufactures.
“Our customers are always seeking ways to make turbine engines lighter, stronger and more fuel efficient, while reducing maintenance costs,” said John Gallo, Rolls-Royce North America executive vice president.
Rolls-Royce, which primarily makes power systems and engines for the aerospace market, saw revenue of about $19.5 billion last year.
The company is not to be confused with Rolls-Royce Motor Cars Ltd., a luxury automobile unit of Munich-based BMW AG.