PCC turns focus back to aerostructures

Jan 24, 2013 | 05:38 PM | Frank Haflich

Tags  Precision Castparts, Mark Donegan, Timet, Frank Haflich

LOS ANGELES — Precision Castparts Corp. (PCC), fresh off its $2.9-million takeover of Titanium Metals Corp. (Timet), has turned its eye back to aerostructures acquisitions following a profitable fiscal third quarter.

PCC chairman and chief executive officer Mark Donegan told financial analysts this week that the Portland, Ore.-based company, best known as a producer of investment castings, forgings and aircraft fasteners, expects to have about $5 billion in available cash to "deploy" through March 2016, with mergers and acquisitions getting top priority.

PCC acquired Dallas-based titanium producer Timet, which is now part of the company’s forgings segment, on Dec. 21. But the company has given no indication it’s looking to make another "needle-mover" acquisition in metals production, as Donegan referred to the Timet deal. ....

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