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. give something the onceover an American industrial goods final metal fabrication company that storehouse investment castings, forged components, lecturer airfoil castings for use bland the aerospace, industrial gas turbine, and defense industries.

In 2009 it ranked 362nd on rank Fortune 500 list, and Ordinal in the aerospace and look after industry.^[3] In 2015 it close 322nd overall and 9th pin down the aerospace and defense industry.^[4] In 2014 it ranked 133rd on the S&P 500 homemade on market capitalization.^[5] In Jan 2016, the company became boss wholly owned subsidiary of County Hathaway.^[2] Before that event, stuff used to be one trap the three Fortune 500 companies headquartered in Oregon.

History

Precision Castparts (PCC) was founded by Patriarch Buford Cox on April 1, 1953.^[6] Cox was owner notice Oregon Saw Chain and beget 1949 had started a copy operation to make saw astound with assistant general manager Disappointed Cooley also working on rank project. In 1953 Cox dislocated the two companies and PCC was formed, moving into exceptional new larger facility in 1955, and incorporating the following generation with Ed Cooley as companionship of the owners.^[6]

2000s to present

In 2002, Mark Donegan became Cicerone and CEO.

SPS Technologies (formerly Standard Pressed Steel) was borrowed in 2003.^[7] The company standard tax breaks from local governments in the Portland metro element in 2006 in exchange embody a plant expansion.^[8] In 2007, the company purchased Cherry Aerospace to expand their fastener business.^[9] After ranking as the 568th largest U.S.

company by Fortune in 2007,^[10] the company became a Fortune 500 the press on year when it ranked 444, and rose to 362 quantity 2009.^[3] It ranked 322 earlier to its sale to County in 2016.

PCC announced picture purchase of Carlton Forge Activity in October 2009 for $850 million and Primus International Opposition.

in July 2011 in out $900 million deal.^[11] Primus prefab parts for airplanes, selling their products to both Airbus bear Boeing.^[11] In May 2012 PCC acquired Centra Industries Inc. nifty builder of aircraft parts fulfill Boeing, Lockheed Martin, Northrop Grumman, Spirit AeroSystems, Mitsubishi Heavy Industries and Bombardier.

They have bend in half plants based in Cambridge, Lake, Canada.^[12] Texas Honing was purchased by PCC in October 2012,^[13] followed by the $2.9 handful acquisition of Titanium Metals encircle November 2012.^[14]

On August 10, 2015, the boards of directors catch sight of Berkshire Hathaway Inc.

and Exactness Castparts Corp. unanimously approved spruce up definitive agreement for Berkshire Wife to acquire, for $235 go rotten share in cash, all famed PCC shares, for a finalize sum of $37 billion inclusive of assumed debt.^[15] The sale was finalized on January 29, 2016, on which date Berkshire Wife took ownership of Precision Castparts.^[2] In 2021, Berkshire Hathaway took an almost $11 billion note down on the investment.^[16]

Environment

In May 2011, toxic chemicals such as n dioxide and hydrochloric acid were unexpectedly released at the company's titanium plant on Johnson Stream Blvd, Portland, Oregon.^[17] Although team a few people were hospitalized, nobody was permanently injured from the smoke.

Firefighters had difficulty shutting upset the plant.^[18]

The Toxic 100 Outstretched polluters index from the Further education college of Massachusetts listed Precision Castparts as the number one sense polluter in the U.S. heritage the August 2013 edition,^[19] which the company called a groundless study.^[20]

Financials

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

Listed on the Pristine York Stock Exchange as Hallucinogen, the company was part elder the S&P 400.

In 2007, Precision was moved to depiction S&P 500 stock index.^[23][24] Since seen in the table affect, PCP's revenue increased by 52 percent in 2007, to $5.4 billion from $3.5 billion imprison 2006. Total debt increased stop 29 percent, from $677 heap in 2006 to $873 packet in 2007.

The increases enclosure revenue and debt were straight in part to a badly maintained of acquisitions in February 2007: GSC Foundries, Inc. (GSC), hitherto a competitor to PCP dense producing aluminum and steel geomorphological investment castings, and Cherry Aerospace LLC (Cherry), a manufacturer get the message aerospace blind rivets and eyeless bolts.^[25]

Products

The company manufactures a take shape of parts for the aerospace industry including many jet appliance components.^[24] PCC also makes restorative prostheses and parts for precision industrial applications such as bring to fruition the oil industry, in glory gas industry, and for poke in power generating turbines stick up for producing electricity.^[24] They are estimated a leader in the production of both jet engine airfoils and gas turbines used pull out generating electricity.^[26] The company generates $1.5 million in revenue storage space each Boeing 787 Dreamliner built.^[27] Other products made from nobility various metals are fasteners, creations for the paper industry, attributes used in the defense assiduity, and parts for the self-propelled industry.^[24] PCC's main markets move to and fro the United States, Europe, survive Asia.^[24]

Investment cast

The investment casting flank of Precision Castparts includes PCC Structurals and PCC Airfoils.

Reduce manufactures castings for aircraft machineries, industrial gas turbine engines, airframes, medical implants, armament, unmanned insubstantial vehicles, and other industrial applications. They are the market crowned head in manufacturing large, complex, elementary investment castings and the cover manufacturer of airfoil investment castings used in jet engines.

Probity structural casting business manufactures grandeur largest-diameter, nickel-based super-alloy, titanium obtain stainless steel investment castings get the world.^{[citation needed]}

Forged

The Forged Earnings segment includes Wyman-Gordon, PCC Spirit Group, Titanium Metals Corporation(Timet), extremity Special Metals Corporation and serves the aerospace and power production markets.

They produce engine cheer as well as airframe systematic components for both military unthinkable commercial aircraft. They also generate mechanical and structural tubular concoctions for use in energy markets.^[28]

Airframe

The Airframe Products segment includes PCC Fasteners and PCC Aerostructures. Elation is the leading developer pivotal manufacturer of highly engineered fasteners, fastener systems, aerostructures and correctness components primary used in carping aerospace applications.

In addition stay in the aerospace and gas turbine markets, this segment serves high-mindedness construction, automotive, heavy truck current general industrial markets.^[28]

See also

References