(March 9, 2011)

TransDigm Group Inc. (TDG: News ), engineered aircraft components maker, Wednesday said it has completed the divestiture of its fastener businesses to Alcoa Inc. (AA: News ) for nearly $240 million.

The fastener business, which comprises of Valley-Todeco Inc. and Linread Ltd., designs and manufactures fasteners, fastening systems and bearings for commercial military and general aviation aircraft.

The total after tax cash proceeds from the transaction is expected to be about $170 million.

Chief Executive Nicholas Howley said, "Compared to our previous guidance, revenues will be down slightly while EBITDA As Defined is estimated to be flat to modestly up. The divestiture of the fastener business is offset primarily by stronger operating performance at the remaining McKechnie businesses.

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