Company Profile:
Precision Castparts Corp. (PCC) is a leading worldwide, diversified manufacturer of complex metal components and products. It serves the aerospace, power, and general industrial spanets. PCC is the spanet 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 spanets, 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 spanets in which it serves.
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.”
Business Profile:
PCC Aerostructures is a leading supplier of complex components and assemblies to the global aerospace industry.
PCC Aerostructures now includes more than 35 plants in the U.S, Europe and Asia with over 5000 employees and has ambitious growth plans. Businesses within PCC Aerostructures include Primus International, SPS Aerostructures, Centra, Avibank and AVK, Klune, ProCoat, Southwest United Industries, Progressive Incorporated, Synchronous, Noranco and Kalistrut. Plants locations include Washington, Utah, California, Oklahoma, Kansas, Texas, Ohio, Canada, Mexico, the UK and China.
Location Profile:
Klune Industries was founded in 1972 in Southern California. More than forty years later, Klune Industries is a preferred supplier to the aerospace and defense industries offering end-to-end solutions for aerospace and defense including sheet metal forming, machining, and assemblies. Klune Industries was acquired by Precision Castparts Corp. in August 2012.