Precision Castparts Corp. is a worldwide, diversified manufacturer of complex metal components and products. It serves the aerospace, power, and general industrial markets.
PCC is the market leader in manufacturing large, complex structural investment castings, airfoil castings, forged components, aerostructures and highly engineered, critical fasteners for aerospace applications.
In addition, the Company is the leading producer of airfoil castings for the industrial gas turbine market.
PCC also manufactures extruded seamless pipe, fittings, forgings, and clad products for power generation and oil & gas applications; commercial and military airframe aerostructures; and metal alloys and other materials to the casting and forging industries.
Precision Castparts Corp. Leadership
Over the course of the company’s history, PCC has been led by just three people: Ed Cooley, Bill McCormick, and current Chief Executive Officer Mark Donegan.
Each made significant contributions during his tenure to make PCC one of the foremost manufacturing companies in the world. PCC was acquired by Berkshire Hathaway in 2016.
The story of PCC begins in Portland, Oregon in 1947 with Joseph B. Cox, the founder and president of Oregon Chain Saw Manufacturing Co. — known today as Blount International, Inc. You may recognize the OREGON name as a current brand of chainsaw equipment.
Joseph B. Cox
Cox observed how effectively timber beetle larvae, the size of a man’s forefinger, were easily chewing their way through timber. He thought replicating the larva’s alternating C-shaped jaw with a metal chain saw cutter would improve the saw chain type at the time.
The result… a revolutionary new product
Mr. Cox needed to affordably cast his new cutter, so the investment casting side of the business was born.
The Cox Chipper Chain is still considered the biggest influence in the history of timber cutting.
Cox Chipper Chain
Small investment casting operation is established with 10 employees. PCC produces more than 10 million saw chain cutters before the product line is dropped in favor of larger, more complex castings.
Ed Cooley begins running the investment casting operation.
Precision Castparts is formed with Joseph Cox as owner and president; Cooley is GM with 20 employees. The original building is located on SE 13th, Portland, OR
SE Johnson Creek
PCC moves to its Johnson Creek facility (still in operation today) and grows to 40 employees.
Ed Cooley and partners purchase PCC
Cooley becomes PCC's first CEO and has 90 employees.
Hand-Dipped Shell System
PCC experiences a major breakthrough when it develops a new investment casting technology that allows for larger castings.
TF-39 Jet Engine
General Electric Launches TF-39 Jet Engine
GE provides a 40,000-pound thrust engine for the C-5A Transport. The engine was the TF-39; it was 3-times the size of the largest engine previously built in production.
PCC stock listed for $12/share.
PCC combines 11 small castings into a single part for GE's CF6-50 engine; led to replacing multiple fabrications with one piece castings.
PCC Small Structurals
PCC builds a plant to specialize in small to mid-size castings and make room for growth of newly designed large parts.
Pratt-Whitney begins using PCC castings on their PW2037 engine for the Boeing 757.
GE CF6-80C engine for Boeing 747 and 767 launches with PCC turbine rear frame and compressor rear frame. PCC breaks ground on a plant to support the world's largest, high-volume titanium casting, the GE CF6-80C fan frame.
Formerly a division of TRW, Cooley bets the company on a business that is losing money; PCC Airfoils becomes profitable in its first year; employment grows to 2,000.
Initiated plants in Oregon and Ohio to serve the industrial gas turbine market; Rolls Royce joins GE and P&W by incorporating large, complex castings into their engine designs; PCC employs 7,500 people.
Wyman-Gordon is a forging business with locations in MA, TX, and Scotland; also owns several small casting companies.
PCC acquires SPS Technologies
SPS makes critical fasteners for the aerospace industry; the acquisition establishes a new Fasteners platform to which PCC adds several more businesses.
PCC acquires Special Metals
Special Metals, the world leader in high nickel alloys, has invented and patented over 70 industry-leading alloys, many engineered for the most brutal, mission-critical services in aerospace and other industries.
PCC acquires Primus Intl.
The Primus acquisition creates an Aerostructures platform and is the springboard for many related acquisitions.
PCC acquires TIMET
TIMET has led the industry in titanium products since 1950, supplying nearly 1/5 of the world's titanium demand; PCC becomes the largest titanium sponge producer and melter in North America.
PCC acquires Permaswage
Permaswage designs and manufactures permanent fittings used in fluid conveyance systems for airframe applications, as well as installation tooling.
PCC acquires Noranco
Noranco is a premier supplier of complex machined and fabricated components for aero-engine, landing gear and airframe applications.
Berkshire Hathaway acquires PCC
On January 29, Berkshire Hathaway completed its acquisition of Precision Castparts Corp. for $37.2 billion.