Berkshire Hathaway is to acquire PM component manufacturer Precision Castparts Corp (PCC) for around US$37.2 billion.

‘I’ve admired PCC’s operation for a long time,’ said Warren E. Buffett, Berkshire Hathaway chairman and CEO. ‘For good reasons, it is the supplier of choice for the world’s aerospace industry, one of the largest sources of American exports. Berkshire’s board of directors is proud that PCC will be joining Berkshire.’

‘We are very pleased to be joining forces with Berkshire Hathaway,’ said Mark Donegan, PCC’s chairman and CEO. ‘We see a unique alignment between Warren’s management and investment philosophy and how we manage PCC for the long-term.  We believe that as part of Berkshire Hathaway, PCC will be exceptionally well-positioned to support our customers’ needs into the future.’

PCC makes airframe components and fasteners for aerospace applications, and airfoil castings for the aerospace and industrial gas turbine markets.  PCC is also a leading producer of titanium and nickel superalloy melted and mill products for the aerospace, chemical processing, oil and gas, and pollution control industries, and manufactures extruded seamless pipe, fittings, and forgings for power generation and oil and gas applications. It will continue to do business around the world under the Precision Castparts name and maintain its headquarters in Portland, Oregon.

This story is reprinted from material from Precision Castparts, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.