Precision Castparts Corp.
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| Precision Castparts Corp. | |
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| Type | Public (NYSE: PCP) |
|---|---|
| Founded | April 1, 1953, Portland, Oregon |
| Headquarters | United States |
| Key people | Mark Donegan Chairman & CEO |
| Industry | defense and aerospace |
| Products | cast parts |
| Revenue | $3,546,000,000 |
| Operating income |  $349,100,000 (FY 2006) |
| Net income | $ 350,600,000 (FY 2006) |
| Employees | 16,000 (2006) |
| Divisions | PCC Airfoils, PCC Structurals |
| Subsidiaries | Wyman-Gordon Forgings, Special Metals Corporation |
| Website | PreCast.com |
| Financial data.[1] | |
Precision Castparts Corp. (NYSE: PCP) is a Portland, Oregon, United States based Fortune 1000 company. The industrial goods and metal fabrication company manufactures cast metal parts for use in the aerospace, industrial, defense, and automobile industries. In 2006 they ranked 579th on the Fortune 1000 list, and 12th in the Aerospace and Defense Industry.[2]
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[edit] History
Precision Castparts (PCC) was founded by Joseph B. Cox on April 1, 1953.[3] Cox was owner of Oregon Saw Chain and in 1949 had started a casting operation with assistant general manager Ed Cooley also working on the project. In 1953 Cox separated the two companies and PCC was formed, moving into a new larger facility in 1955, and incorporating the following year with Ed Cooley as one of the owners.[3]
[edit] 1960s & 1970s
Beginning in the 1960s the company began to secure contracts to provide parts for jet engines. In 1967 they were awarded a contract by General Electric to provide parts for their TF39 engine and another contract with Pratt & Whitney.[3] The following year the company was taken public and began work with Boeing.[3] By the 1970s PCP was also casting parts for body part replacements such as hips and knees.
[edit] 1980s to current
Then in the early 1980s they expanded their facilities with several additions. In 1985 the company acquired a titanium foundry in Europe and built a new plant the next year in France.[3] Over the next few years PCC acquired other companies such as Airfoils, and AETC Limited of Britain.[3] In 1989 PCC was listed on the New York Stock Exchange, trading as PCC.[3] Acquisitions continued in the 1990s with Advanced Forming Technology, ACC Electronics, Quamco, Astro Punch, and Olofsson Corporation.[3] In 1997 PCC bought J&L Fiber Services, Pittler Maschinenfabrik GmbH, and Schlosser Casting Company. Over the next ten years the company continued to grow through acquiring other companies around the world such as Romania, Scotland, Switzerland, and Australia to name a few.[3] They have also built or joined with partners to build plants around the world including India, the Czech Republic, Hungary, China, and Malaysia.[3]
[edit] Recent financials
In millions of US dollars.[1]
| Year | Revenue | Net Profit |
|---|---|---|
| 2004: | $1,913 | $117 |
| 2005 | $2,919 | ($1.7) |
| 2006 | $3,546 | $350 |
Listed on the NYSE as PCC, the company is part of the S&P 400 MidCap and S&P 1500 Super Comp indexes.[4]
[edit] Products
The company manufactures a variety of parts for the aerospace industry including many jet engine components.[4] PCC also makes medical prostheses and parts for other industrial applications such as in the oil industry, the gas industry, and for use in power generating turbines for producing electricity.[4] Other products made from the various metals are fasteners, products for the paper industry, parts used in the defense industry, and parts for the automotive industry.[4] PCC’s main markets are the United States, Europe, and Asia.[4]
[edit] References
| Oregon Based Companies |
|---|
| NYSE Listed: Nike, Inc. · Precision Castparts Corp. · Portland General Electric · Tektronix · StanCorp Financial Group, Inc. |
| NASDAQ Listed: Mentor Graphics · Columbia Sportswear · Planar Systems · InFocus · Lattice Semiconductor · RadiSys · Digimarc Corporation · McCormick & Schmick's · Rentrak · FLIR Systems |
| Private Companies: Harry and David Operations Corp. · Parr Lumber · Leatherman · Reser's Fine Foods · Les Schwab · Edge Wireless · Franz Bakery · Kettle Foods · JELD-WEN · Shari's |
| Other: Bi-Mart · Evergreen International Aviation · Tillamook County Creamery Association |
