Timken Buys Assets of PMA Parts Manufacturer Extex
Timken has acquired assets of Gilbert, Ariz.-based Extex, which specializes in manufacturing FAA-approved aftermarket parts for turbine engines. During its 13 years of operation, Extex expanded its portfolio of parts manufactured under FAA parts manufacturer approval (PMA) regulations to serve three powerplant lines–the Pratt & Whitney Canada PT6, Honeywell auxiliary power units and the Rolls-Royce 250. Last year the company had sales of approximately $15.4 million. The acquisition will add approximately 600 FAA-approved PMA components to Timken’s existing portfolio of more than 1,400. Extex’s inventory and most of its employees have already been moved to Timken Aerospace Aftermarket Solutions Group’s facility in Mesa, 10 miles away. With roots in the bearings and power transmission products and services industries, Timken has been building its PMA capabilities for the past few years. Acquisitions have included aviation supplier Purdy, Turbo Engines and Alcor Engine. Terms of the Extex acquisition were not disclosed.