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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