Alcoa has agreed to purchase the aerospace fastener business of TransDigm Group Inc. for approximately $240 million. The new business will become part of Alcoa Fastening Systems. TransDigm acquired the fastener business when it purchased McKechnie Aerospace in December. The TransDigm fastener business is made up of Valley-Todeco Inc. located in Sylmar, CA, and Linread Ltd. located in the U.K. The business designs and manufactures fasteners, fastening systems, and bearings for commercial, military, and general aviation aircraft. The three TransDigm fastener manufacturing facilities employ a combined 400 people. Employment levels will remain the same, according to Alcoa.