Though it has expertise in casting, you won't find Precision Castparts Corp. (PCC) offering Hollywood stars any movie roles. The company is a maker of investment castings used in jet aircraft, satellite launches, aerostructures, armaments, and medical applications (prostheses). Its Investment Cast products segment makes jet engine parts, fluid management valves, and deep-hole boring tools. Forged Products and Airframe Products round out PCC's three segments and cover the power generation and paper and pulp industries, as well as general industry. The cyclical aerospace sector accounts for more than half of PCC's sales, and customers have included noteworthy names like General Electric and Pratt & Whitney.


PCC manufactures extruded seamless pipe, fittings, forgings, and clad products for power generation and oil and gas applications; commercial and military airframe aerostructures; and metal alloys and other materials to the casting, forging, and other industries.

PCC's Forged Products segment works with such metals as titanium and steel alloys to manufacture components for commercial and military aircraft. Generating 44% of the company's sales, the lineup ranges from landing gear to wing structures and airframes, as well as piping for the energy market.

The Airframe Products segment (30% of sales) primarily produces highly engineered fasteners, fastener systems, fluid fittings, aerostructures, and precision components for critical applications in the aerospace, automotive and industrial machinery markets. The majority of Airframe Products sales come from the same aerospace customer base served by the Investment Cast Products and Forged Products segments. The unit also manufactures parts used in the pulp and paper and power generation markets.

The Investment Cast Products division (26% of sales) works with specialty materials and alloys, nickel- and cobalt-base alloys and stainless steel, to create large structural castings for such applications as aircraft engines, gas turbines, airfoils, and airframes. Other products from this segment include medical prostheses, artificial hips and knees, and components for pumps and compressors, as well as large titanium components for armament systems such as the BAE lightweight howitzer.

Sales and Marketing

PCC serves the aerospace, power, and general industrial markets. The company offers its products for coal-fired, industrial gas turbine (IGT) and nuclear power plants; oil and gas environment; general industrial, armament, medical and other applications; aerospace, chemical processing, oil and gas, pollution control; automotive and general industrial markets, and investment casting and forging industries. Aerostructures' products and services are sold through a direct sales staff.

Sales to the aerospace market increased from 6% of PCC's revenues in 2012 to 65% 2013, and 68% in 2014. Sales to the power market accounted for 18%.

The company’s customers included General Electric, United Technologies, Rolls Royce, Airbus, and Boeing. Direct sales to General Electric accounted for 13% of PCC's revenues in 2014.

Financial Performance

PCC has gained considerable financial ground since the recession. In 2014 its revenues increased by 15% due to a 25% growth in Airframe Products segment driven by the results of the Permaswage acquisition. The segment experienced strong growth in aerospace sales of 29%, due to solid contributions from new acquisitions coupled with organic sales expansion. The Aerostructures businesses grew year-over-year aerospace sales by 14% due to market growth and share gains. The Forged Products segment revenues grew by 20% thanks to the the acquisitions of Aerocraft, Dickson, THI and Titanium Metals Corporation (TIMET). This segment experienced aerospace sales growth of 27%, driven by the inclusion of TIMET and higher commercial aerospace demand.

The company's net income has followed the revenue trend of the last five years. Net income increased by 23% in 2013 due to higher revenues.

PCC's operating cash flow increased by $423 million due to increase in depreciation and amortization, deferred income taxes and cash generated from receivables and pension and other postretirement benefit plans.


PCC is using acquisitions as a means to bolster sales. Fiscal 2014 sales include the contribution from eleven businesses acquired after the beginning of fiscal 2013 and seven businesses acquired in fiscal 2014 that were not fully included in the prior year. These acquisitions contributed more than $1.2 billion of additional sales in fiscal 2014 compared to fiscal 2013.

Mergers and Acquisitions

To expand its aerostructures portfolio, in 2014 the company acquired Aerospace Dynamics International (ADI), a premier supplier, operating a wide range of high-speed machining centers, for 625 million.

In 2013 PCC acquired France-based Permaswage, a maker of aerospace fluid fittings, for $600 million. The deal fortifies PCC's product range of airplane components.

The company is also using acquisitions to jumpstart its Forged Products segment. In 2013 it also purchased TIMET, a fabricated titanium products provider, for $2.9 billion. PCC bought TIMET to streamline its supply chain and optimize its input costs by adding fabricated titanium products to its portfolio.

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4600 Se Harney Dr
Portland, OR 97206-0825
Phone: 1 (503) 652-3620
Fax: 1 (503) 788-5436


  • Employer Type: Public
  • Managing Director: Hank Binish
  • Vice President Of Sales, Strategy, Marketing And Business Development: Martin Quigley
  • Pres: Kevin Stein

Major Office Locations

  • Portland, OR

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