Timet must make inventory cuts: PCC

Oct 28, 2013 | 02:24 PM | Frank Haflich

Tags  Titanium Metals, Timet, Precision Castparts, PCC, Mark Donegan, Steven Hackett, titanium inventory, inventory reduction Frank Haflich

LOS ANGELES — Titanium Metals Corp. (Timet) must trim up to $100 million in inventory over the next "couple of years," according to Mark Donegan, chairman and chief executive officer of parent company Precision Castparts Corp. (PCC).

This target, which Donegan disclosed during a quarterly earnings conference call, isn’t seen by outsiders as criticism of Exton, Pa.-based Timet, but rather as part of an integration drive at PCC aimed at squeezing out costs as well as an unavoidable process after acquisitions by PCC that Donegan himself....

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