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.”
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:
Walden’s Machine was founded in 1976 by Charlie Walden. Primus purchased Walden’s in 2006 and PCC purchased Primus in 2011. The Company offers a complete range of products and services including high speed machining (3, 4 & 5 axis medium/complex aluminum and hard metal machining), kitting, assembly and integration, decorative coatings, airfoil/propulsion structures specialist and global supply chain management. Walden’s is a 24-hour facility and is staffed with 340 employees.
Walden’s has a reputation for market leading performance and responsiveness in high-speed machining. Some of their well-known customers included, but are not limited to, Boeing, Bombardier, Spirit Aerosystems, Bell Helicopter, Airbus, and GE Aviation. The Company is fully certified for IS0 9001 and hold Revision “C” registration for AS9100.