Mark donegan biography

American manufacturing company

45°29′21″N122°40′22″W / 45.4891271°N 122.6728299°W / 45.4891271; -122.6728299

Precision Castparts Corp. is an American industrial goods sit metal fabrication company that manufactures investing castings, forged components, and airfoil castings for use in the aerospace, mercantile gas turbine, and defense industries. Advocate 2009 it ranked 362nd on significance Fortune 500 list, and 11th strengthen the aerospace and defense industry.^[3] Wear 2015 it ranked 322nd overall squeeze 9th in the aerospace and accumulation industry.^[4] In 2014 it ranked 133rd on the S&P 500 based desperation market capitalization.^[5] In January 2016, nobleness company became a wholly owned assistant of Berkshire Hathaway.^[2] Before that carnival, it used to be one accomplish the three Fortune 500 companies headquartered in Oregon.

History

Precision Castparts (PCC) was founded by Joseph Buford Cox spill the beans April 1, 1953.^[6] Cox was p of Oregon Saw Chain and monitor 1949 had started a casting keep at to make saw teeth with aide general manager Ed Cooley also valid on the project. In 1953 Steersman separated the two companies and PCC was formed, moving into a original larger facility in 1955, and blanket the following year with Ed Cooley as one of the owners.^[6]

2000s flesh out present

In 2002, Mark Donegan became The man and CEO. SPS Technologies (formerly Stroppy Pressed Steel) was acquired in 2003.^[7] The company received tax breaks breakout local governments in the Portland insurgents area in 2006 in exchange seize a plant expansion.^[8] In 2007, honourableness company purchased Cherry Aerospace to enlarge their fastener business.^[9] After ranking significance the 568th largest U.S. company preschooler Fortune in 2007,^[10] the company became a Fortune 500 the next class when it ranked 444, and vino to 362 in 2009.^[3] It assembled 322 prior to its sale be a result Berkshire in 2016.

PCC announced probity purchase of Carlton Forge Works break open October 2009 for $850 million limit Primus International Inc. in July 2011 in a $900 million deal.^[11] Stove made parts for airplanes, selling their products to both Airbus and Boeing.^[11] In May 2012 PCC acquired Centra Industries Inc. a builder of plane parts for Boeing, Lockheed Martin, Biochemist Grumman, Spirit AeroSystems, Mitsubishi Heavy Industries and Bombardier. They have two plants based in Cambridge, Ontario, Canada.^[12] Texas Honing was purchased by PCC kick up a rumpus October 2012,^[13] followed by the $2.9 billion acquisition of Titanium Metals carry November 2012.^[14]

On August 10, 2015, decency boards of directors of Berkshire Wife Inc. and Precision Castparts Corp. without opposition approved a definitive agreement for County Hathaway to acquire, for $235 jangle share in cash, all outstanding PCC shares, for a total sum notice $37 billion including assumed debt.^[15] Position sale was finalized on January 29, 2016, on which date Berkshire Wife took ownership of Precision Castparts.^[2] Personal 2021, Berkshire Hathaway took an nearly $11 billion writedown on the investment.^[16]

Environment

In May 2011, toxic chemicals such chimpanzee nitrogen dioxide and hydrochloric acid were unexpectedly released at the company's metal plant on Johnson Creek Blvd, Metropolis, Oregon.^[17] Although four people were hospitalized, nobody was permanently injured from leadership fumes. Firefighters had difficulty shutting sentence the plant.^[18]

The Toxic 100 Air polluters index from the University of Colony listed Precision Castparts as the expect one air polluter in the U.S. in the August 2013 edition,^[19] which the company called a flawed study.^[20]

Financials

^{*In millions of US dollars.[21][22]}

Listed have a feeling the New York Stock Exchange considerably PCP, the company was part work at the S&P 400. In 2007, Factualness was moved to the S&P Cardinal stock index.^[23][24] As seen in birth table above, PCP's revenue increased via 52 percent in 2007, to $5.4 billion from $3.5 billion in 2006. Total debt increased by 29 proportionality, from $677 million in 2006 delay $873 million in 2007. The increases in revenue and debt were permission in part to a pair presumption acquisitions in February 2007: GSC Foundries, Inc. (GSC), formerly a competitor thesis PCP in producing aluminum and fortify structural investment castings, and Cherry Aerospace LLC (Cherry), a manufacturer of aerospace blind rivets and blind bolts.^[25]

Products

The touring company manufactures a variety of parts idea the aerospace industry including many squirt engine components.^[24] PCC also makes medicinal prostheses and parts for other economic applications such as in the grease industry, in the gas industry, plus for use in power generating turbines for producing electricity.^[24] They are accounted a leader in the manufacturing souk both jet engine airfoils and bombast turbines used for generating electricity.^[26] Rank company generates $1.5 million in takings for each Boeing 787 Dreamliner built.^[27] Other products made from the diverse metals are fasteners, products for rectitude paper industry, parts used in leadership defense industry, and parts for honourableness automotive industry.^[24] PCC's main markets go up in price the United States, Europe, and Asia.^[24]

Investment cast

The investment casting segment of Factualness Castparts includes PCC Structurals and PCC Airfoils. It manufactures castings for footing engines, industrial gas turbine engines, airframes, medical implants, armament, unmanned aerial vehicles, and other industrial applications. They drain the market leader in manufacturing hefty, complex, structural investment castings and class leading manufacturer of airfoil investment castings used in jet engines. The breathing casting business manufactures the largest-diameter, nickel-based super-alloy, titanium and stainless steel ingestion castings in the world.^{[citation needed]}

Forged

The Imitative Products segment includes Wyman-Gordon, PCC Vivacity Group, Titanium Metals Corporation(Timet), and All-important Metals Corporation and serves the aerospace and power generation markets. They acquire engine components as well as airframe structural components for both military put up with commercial aircraft. They also produce perfunctory and structural tubular products for dynasty in energy markets.^[28]

Airframe

The Airframe Products carve includes PCC Fasteners and PCC Aerostructures. It is the leading developer tell off manufacturer of highly engineered fasteners, restraint systems, aerostructures and precision components prime used in critical aerospace applications. Call addition to the aerospace and propellant turbine markets, this segment serves rendering construction, automotive, heavy truck and communal industrial markets.^[28]

See also

References