Over the last decade, aerospace OEMs have reduced the number of their suppliers and requested vertical integration, sizable price reductions and significantly longer payment terms. Suppliers have responded by bulking up through acquisitions and building greenfield facilities around the globe.  Precision Castparts offers a good example. From 2012 to 2016, it made a dozen acquisitions including companies that supply raw materials, forging and machining services, and aerostructures. ...

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