Another big PCC buy not likely soon: exec

Dec 03, 2012 | 05:37 PM | Frank Haflich

Tags  titanium, aerospace, Precision Castparts, Timet, Titanium Metals, Mark Donegan, Steven G. Hackett, Harold C. Simmons Synchronous Areospace Group

LOS ANGELES — Precision Castparts Corp. (PCC) isn’t at the end of its acquisition string, but another purchase on the scale of its pending blockbuster takeover of Titanium Metals Corp. (Timet) may not be in the cards anytime soon, PCC’s top executive said.

"Are we at the end of ideas? No, we’re not by any stretch of the imagination," PCC’s chairman and chief executive officer Mark Donegan said at the Credit Suisse 2012 Aerospace and Defense Conference in New York last week when asked about the possibility of additional acquisitions in the near future.

In what Donegan described as a "needle-mover" for PCC, the Portland, Ore.-based producer of castings, forgings, fasteners and aerostructure components said in November it would pay $2.9 billion for Timet. PCC followed the news last week with its intention to acquire Synchronous Aerospace Group, a Santa Ana, Calif.-based aerospace machining and manufacturing company (amm.com, Nov. 28). ....