Aero Forgings acquires UK forging business of Arconic for $62m.

Aero Forgings Bidco, a manufacturer and forger of specialty parts for the aerospace industry acquires UK-based forging business of Arconica, a specialty automobile parts and equipment manufacturer for $62m. The sales illustrate Arconic’s plan to divest its non-core businesses as it approaches a company split. The company intends to close the transaction by the fourth quarter of 2019.