LOS ANGELES Precision
Castparts Corp.s (PCCs) acquisition of Titanium
Metals Corp. (Timet) was a key factor in its 15.3-percent
increase in backlog in fiscal 2013, according to documents
filed with the U.S. Securities and Exchange Commission.
Portland, Ore.-based PCCs
backlog grew to $6.8 billion at the end of March from $5.9
billion a year earlier, the company said in the filing.
PCC purchased Dallas-based
titanium producer Timet in December 2012 for $2.9 billion (
amm.com, Nov. 9).
The backlog increase also
reflected growth in the commercial aerospace and power markets,
according to PCCs filing.
Fairfield, Conn.-based General
Electric Co. (GE) was PCCs largest direct customer in
fiscal 2013, accounting for $1.28 billionmore than 15
percentof PCCs $8.38 billion in total sales, up
from $1.01 billion, or 14.8 percent, in fiscal 2012. GEs
turbine engine facilities are generally viewed as primary
markets for PCCs business.
Investment casting products made
up the largest segment of PCCs sales to GE at $697.2
million, followed by forged products at $540.2 million and
airframe products at $38.4 million.
While engine manufacturers Rolls
Royce Ltd. and United Technologies Corp., along with aircraft
builders Boeing Co. and Airbus SAS, also are considered "key
customers," GE was the only direct customer that accounted for
more than 10 percent of its business, PCC said.