Precision Castparts Corp. (PCC) is a leading worldwide, diversified manufacturer of complex metal components and products. It serves the aerospace, power, and general industrial markets. PCC is the market leader in manufacturing large, complex structural investment castings, airfoil castings, and forged components used in jet aircraft engines and industrial gas turbines. The Company is also a leading producer of highly engineered, critical fasteners for aerospace and other general industrial markets, manufactures extruded seamless pipe, fittings, forgings, and clad products for power generation and oil & gas applications, and supplies metal alloys and other materials to the casting and forging industries. PCC is a high quality business with dominant positions in most segments of the markets in which it serves. The company has a history of superior earnings growth and was the fourth best performing stock in the S&P 500 during the last decade, up 1580.
Headquartered in Portland, Oregon, this over $10 billion publicly traded company (NYSE: PCP) employs more than 29,500 people worldwide. PCC has over 160 plants and has a presence in twenty-six states in the US and in over a dozen countries. PCC is relentless in its dedication to being a high-quality, low-cost and on-time producer; delivering the highest value to its customers and shareholders while continually pursuing strategic, profitable growth.
Effective early February 2016, Berkshire Hathaway, led by chairman and CEO Warren E. Buffet, acquired Precision Castparts Corp. Mr. Buffet stated, “I’ve admired PCC’s operation for a long time. For good reasons, it is the supplier of choice for the world’s aerospace industry, one of the largest sources of American exports. Berkshire’s Board of Directors is proud that PCC has joined Berkshire.”
“We are very pleased to be joining forces with Berkshire Hathaway,” said Mark Donegan, PCC’s chairman and chief executive officer. “We see a unique alignment between Warren’s management and investment philosophy and how we manage PCC for the long-term. We believe that as part of Berkshire Hathaway, PCC will be exceptionally well-positioned to support our customers’ needs into the future. This transaction offers compelling and immediate value for our shareholders, and allows PCC’s employees to continue to operate in the same manner that has generated many years of exceptional service and performance to our customers.”
With more than 120 operations and approximately 20,000 employees worldwide, Precision Castparts Corp. is the market leader in manufacturing large, complex structural investment castings, airfoil castings, forged components, aerostructures and highly engineered, critical fasteners for aerospace applications. In addition, we are the leading producer of airfoil castings for the industrial gas turbine market. We also manufacture extruded seamless pipe, fittings, and forgings for power generation and oil & gas applications; commercial and military airframe aerostructures; and metal alloys and other materials for the casting and forging industries. With such critical applications, we insist on quality and dependability – not just in the materials and products we make, but in the people we recruit.
PCC is relentless in its dedication to being a high-quality, low-cost and on-time producer; delivering the highest value to its customers while continually pursuing strategic, profitable growth.
In 2016, Berkshire Hathaway, led by Chairman and CEO Warren E. Buffett, acquired Precision Castparts Corp.