Precision Castparts Corp.
Precision Castparts is a U.S. aerospace and industrial manufacturer specializing in precision castings, forged components, airfoils, fasteners, and other engineered metal products.
Last updated August 26, 2026
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Overview
Precision Castparts Corp. is an American industrial manufacturing company whose operations center on highly engineered metal components. Its principal capabilities include investment casting, forging, airfoil production, titanium processing, structural components, and aerospace fastening systems. The company has supplied products for commercial aircraft, jet engines, military platforms, industrial gas turbines, energy infrastructure, medical applications, automotive systems, and other demanding industrial uses. The company was established in Oregon by Joseph Buford Cox, who had previously operated Oregon Saw Chain. Cox began a casting operation in 1949 to produce saw teeth, and Precision Castparts was separated from the saw-chain business on April 1, 1953. The enterprise moved to a larger facility in 1955 and was incorporated in 1956, with Ed Cooley among its owners. Its early experience with difficult-to-produce metal shapes helped establish the technical foundation for later aerospace and industrial work. PCC expanded substantially through acquisitions, particularly from the early 2000s onward. Mark Donegan became president and chief executive officer in 2002. Under his leadership, the company broadened its capabilities through the purchase of SPS Technologies, Cherry Aerospace, GSC Foundries, Carlton Forge Works, Primus International, Centra Industries, Texas Honing, and Titanium Metals. These transactions added aerospace fasteners, forged products, structural aircraft parts, titanium production, and additional casting and machining capacity. Primus, for example, supplied aircraft components to customers including Airbus and Boeing, while Centra served aerospace and defense manufacturers. The acquisition strategy transformed PCC from an Oregon-based specialist into a major global aerospace and industrial supplier. It rose into the Fortune 500 during the late 2000s and became a significant public company in the aerospace and defense sector. Its products have included jet-engine components, airfoils, fasteners, medical prosthetic components, oil and gas equipment, power-generation turbine parts, paper-industry machinery, defense components, and automotive parts. The company has been particularly associated with jet-engine airfoils and components for industrial gas turbines. In August 2015, Berkshire Hathaway and PCC announced an agreement under which Berkshire would acquire all outstanding PCC shares for $235 per share in cash. The transaction, valued at approximately $37 billion including assumed debt, closed on January 29, 2016. PCC consequently became a wholly owned Berkshire Hathaway subsidiary and ceased to be an independently traded public company. Berkshire Hathaway recorded an approximately $11 billion impairment charge related to the investment in 2021. PCC has also faced environmental and operational scrutiny. A 2011 chemical release at its Portland titanium facility hospitalized four people, although no permanent injuries were reported. A University of Massachusetts Toxic 100 ranking published in 2013 identified Precision Castparts as the leading U.S. air polluter in its index; the company disputed the methodology. In February 2025, a major fire at PCC subsidiary SPS Technologies' Jenkintown, Pennsylvania, facility burned for several days. No deaths were reported, but the incident caused extensive disruption and at least 250 layoffs were reported by March 2025. The cause remained under investigation in the available reporting.
History
Precision Castparts originated in an Oregon casting operation created by Joseph Buford Cox in 1949. Cox, the owner of Oregon Saw Chain, began the operation to manufacture cast saw teeth with assistance from general manager Ed Cooley. On April 1, 1953, the casting business was separated from Oregon Saw Chain and named Precision Castparts. The company moved into a larger facility in 1955 and incorporated in 1956, with Cooley among its early owners. For much of its early existence, PCC developed expertise in producing complex metal shapes and components for demanding industrial customers. This specialization later positioned the company for expansion into aerospace, where castings, forgings, airfoils, titanium parts, and fasteners must meet stringent performance and reliability requirements. PCC also developed products for power generation, oil and gas, medical, automotive, defense, and other industrial applications. The company's modern expansion accelerated after Mark Donegan became president and chief executive officer in 2002. PCC acquired SPS Technologies in 2003, adding a major aerospace fastening and engineered-products business. It also acquired GSC Foundries and Cherry Aerospace in 2007. Cherry expanded PCC's blind-rivet and blind-bolt activities, while GSC added casting capacity. In 2006, local governments in the Portland metropolitan area granted tax incentives connected with a PCC plant expansion. PCC continued its acquisition program with Carlton Forge Works in 2009, Primus International in 2011, Centra Industries and Texas Honing in 2012, and Titanium Metals in 2012. Carlton strengthened forging capabilities. Primus and Centra added aircraft structural and machined components for major aerospace and defense customers, while Titanium Metals provided a substantial titanium platform. The $2.9 billion Titanium Metals purchase was one of the largest transactions in the company's expansion period. The acquisitions increased PCC's scale and helped it become a Fortune 500 company. It ranked 444th among U.S. companies in 2008 and 362nd in 2009. By 2015 it ranked 322nd overall and ninth in Fortune's aerospace and defense industry grouping. Before its sale, PCC was one of the three Fortune 500 companies headquartered in Oregon and had been included in the S&P 500. The company experienced environmental scrutiny during this period. In May 2011, an unexpected release of nitrogen dioxide and hydrochloric acid occurred at its Portland titanium plant. Four people were hospitalized, but no permanent injuries were reported. In 2013, the University of Massachusetts Toxic 100 Air Polluters index placed Precision Castparts first among U.S. air polluters in that ranking. PCC criticized the study as flawed. On August 10, 2015, Berkshire Hathaway and PCC announced a definitive agreement for Berkshire to purchase all outstanding PCC shares for $235 per share in cash. The transaction was valued at approximately $37 billion including assumed debt and closed on January 29, 2016. PCC thereafter operated as a wholly owned Berkshire Hathaway subsidiary rather than as an independent listed corporation. Berkshire reported an almost $11 billion writedown on the investment in 2021. In February 2025, SPS Technologies' Jenkintown, Pennsylvania, facility suffered a large fire that lasted approximately six days. Reports noted that the building's sprinkler system had been inoperative because of a water-main break and that the facility had used fire-watch precautions. More than 100 agencies were reportedly involved in the response. No employees, residents, or first responders died, but the facility suffered severe disruption and at least 250 employees were reported laid off by March 15, 2025. The available account stated that the cause remained under investigation.
- 2025
SPS Technologies facility fire
[1]A major fire at the Jenkintown facility lasted from February 17 to February 22 and resulted in substantial operational disruption.
- 2021
Berkshire records investment writedown
[1]Berkshire Hathaway recorded an approximately $11 billion impairment related to its PCC investment.
- 2016
Becomes a Berkshire Hathaway subsidiary
[1]The Berkshire Hathaway acquisition closed on January 29, ending PCC's status as an independently listed company.
- 2015
Berkshire Hathaway announces acquisition
[1]Berkshire Hathaway agreed to acquire PCC for $235 per share in cash, with a stated total value of approximately $37 billion including assumed debt.
- 2012
Centra Industries, Texas Honing, and Titanium Metals acquired
[1]These acquisitions expanded aircraft-part production, honing services, and titanium manufacturing.
- 2011
Primus International acquired
[1]The acquisition broadened PCC's aircraft-component manufacturing business and customer base.
- 2009
Carlton Forge Works acquired
[1]PCC purchased Carlton Forge Works, adding important forging capacity.
- 2007
Cherry Aerospace and GSC Foundries acquired
[1]The acquisitions expanded PCC's aerospace fasteners and structural investment-casting capabilities.
- 2003
SPS Technologies acquired
[1]PCC acquired SPS Technologies, strengthening its aerospace fastener and engineered-products activities.
- 2002
Mark Donegan becomes chief executive
[1]Mark Donegan became president and chief executive officer as PCC entered a major expansion phase.
Products and positioning
A vertically integrated, high-specification manufacturer of mission-critical metal components for aerospace, defense, power generation, and other industrial markets.
Metal castings
Investment castings
PCC produces precision investment castings used where complex geometry, material performance, and dimensional accuracy are important. Applications include aerospace propulsion, aircraft structures, industrial gas turbines, defense systems, and other equipment exposed to high loads or temperatures.
Forgings
Forged components
The company manufactures forged components for aerospace and industrial customers. Forging operations support parts requiring high strength and fatigue resistance, including components associated with aircraft engines, airframes, and power-generation equipment.
Aerospace propulsion
Jet-engine airfoils
Airfoils are among PCC's best-known product areas. These components are used in jet engines and industrial gas turbines, where aerodynamic performance, heat resistance, and manufacturing consistency are critical to system efficiency and reliability.
Specialty metals · 2012
Titanium products
Through Titanium Metals, PCC added titanium production and processing capabilities. Titanium products serve aerospace, defense, medical, and industrial markets because of the metal's strength-to-weight ratio and corrosion resistance.
Aerospace hardware · 2003
Aerospace fasteners
PCC's fastener businesses produce aerospace hardware such as blind rivets, blind bolts, and related fastening products. These components are used in aircraft assembly and maintenance and became a major part of the portfolio through SPS Technologies and Cherry Aerospace.
Aerospace structures · 2011
Aircraft structural components
Acquired businesses including Primus International and Centra Industries manufactured structural and machined aircraft parts for commercial, military, and business-aircraft programs. Customers mentioned in reference material included Airbus, Boeing, Lockheed Martin, Northrop Grumman, Bombardier, and other aerospace manufacturers.
Power-generation equipment
Industrial gas-turbine components
PCC supplies cast, forged, and airfoil components for industrial gas turbines used in electricity generation. The business relies on materials and manufacturing processes capable of handling high temperatures, pressure, and prolonged operating cycles.
Controversies
2025
SPS Technologies facility fire
A six-day fire at the SPS Technologies facility in Jenkintown caused extensive damage and disruption. Reporting noted an inoperative sprinkler system and prior regulatory issues at the site; the fire's cause remained under investigation in the available material.
2013
Toxic 100 air-pollution ranking
The University of Massachusetts Toxic 100 Air Polluters index ranked Precision Castparts first among U.S. air polluters in its August 2013 edition. The company challenged the study's methodology.
2011
Chemical release at Portland titanium facility
Nitrogen dioxide and hydrochloric acid were unexpectedly released at PCC's Portland titanium plant. Four people were hospitalized, but the available account reported no permanent injuries.
Brand decisions
2015
Sell Precision Castparts to Berkshire HathawayM&ABackground
PCC had become a large publicly traded aerospace and industrial supplier after years of acquisition-led expansion.
Action taken
PCC's board approved Berkshire Hathaway's all-cash offer of $235 per share.
Aftermath
The transaction closed in January 2016, and PCC became a wholly owned Berkshire Hathaway subsidiary.
Transaction value including assumed debt. Approximately $37 billion (Agreement announced August 10, 2015; closed January 29, 2016)
2012
Acquire Titanium MetalsM&ABackground
PCC pursued greater control over specialty-metal supply and expanded its presence in aerospace materials.
Action taken
PCC acquired Titanium Metals in a transaction reported at approximately $2.9 billion.
Aftermath
The acquisition added a major titanium platform to PCC's aerospace and industrial materials portfolio.
Acquisition value. $2.9 billion (November 2012 transaction)
2003
Acquire SPS TechnologiesM&ABackground
PCC sought to broaden its aerospace and engineered-products portfolio beyond its traditional casting and forging activities.
Action taken
PCC acquired SPS Technologies, adding aerospace fasteners and related manufacturing capabilities.
Aftermath
The transaction became a foundation for PCC's expansion into aerospace fastening systems.
Recent events
- 2025
Fire destroys SPS Technologies facility in Jenkintown[1]
Other
A fire and reported explosions began at the SPS Technologies facility on February 17, 2025. The blaze continued for several days and was declared extinguished on February 22. No deaths were reported, while at least 250 employees were later reported laid off.
- 2021
Berkshire Hathaway records major writedown on Precision Castparts investment[1]
Other
Berkshire Hathaway recorded an impairment of approximately $11 billion associated with its Precision Castparts investment.
- 2016
Berkshire Hathaway completes Precision Castparts acquisition[1]
M&A
The transaction closed on January 29, 2016, making Precision Castparts a wholly owned Berkshire Hathaway subsidiary.
- 2015
Precision Castparts agrees to acquisition by Berkshire Hathaway[1]
M&A
The boards of Berkshire Hathaway and Precision Castparts approved a cash acquisition valued at approximately $37 billion including assumed debt.
Sources1 sources
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