Precision Castparts Corp. manufactures complex metal components for the aerospace, power generation, and industrial markets. The company produces investment castings, forged components, and fastener systems that go into jet engines, aircraft structures, and power plants worldwide.
Berkshire Hathaway acquired Precision Castparts in January 2016 for $37.2 billion. This deal represented Warren Buffett’s largest acquisition at the time. The company maintains its headquarters in Portland, Oregon and operates as a wholly owned subsidiary.
Precision Castparts supplies critical components to every major aircraft engine manufacturer including General Electric, Rolls-Royce, and Pratt & Whitney. Its products fly on commercial and military aircraft built by Boeing and Airbus.
Precision Castparts History
Precision Castparts Co-founders
Precision Castparts Revenue
Precision Castparts generated $10.4 billion in revenue during 2024. This figure represents a 12% increase over the prior year and marks a return to pre-pandemic performance levels. Aerospace products account for approximately 80% of total sales.
Precision Castparts Market Cap
Precision Castparts traded publicly on the New York Stock Exchange from 1968 until January 2016. The company’s market capitalization peaked above $30 billion before the Berkshire Hathaway acquisition. Since becoming a private subsidiary, market cap data is no longer available.
Precision Castparts Acquisitions
Precision Castparts built its market leadership through strategic acquisitions spanning three decades. The company targeted businesses that would strengthen its position as a vertically integrated aerospace supplier or expand its product offerings to aircraft and engine manufacturers.
The acquisition of Wyman-Gordon in 1999 established the Forged Products segment. This purchase brought titanium and nickel forging capabilities essential for jet engine components. Wyman-Gordon’s heritage dated back to 1883, giving Precision Castparts deep expertise in specialty metals.
SPS Technologies joined the company in 2003, creating the Fastener Products segment. This deal included Cannon-Muskegon, a producer of nickel-based alloys for the casting industry. The fastener business expanded through additional acquisitions including Cherry Aerospace in 2007.
Special Metals Corporation came aboard in 2006, providing nickel billet supply for the forging operations. This move toward vertical integration reduced dependence on outside suppliers. The strategy continued with the acquisition of Carlton Forge Works for $850 million in 2009 and Primus International for $900 million in 2011.
The largest acquisition in company history occurred in 2013 when Precision Castparts purchased Titanium Metals Corporation (TIMET) for $2.9 billion. TIMET operates as the largest independent titanium producer in North America. This deal made Precision Castparts a fully integrated titanium supplier from raw material to finished aerospace components. The company now controls nearly one-fifth of global titanium demand.
Precision Castparts Competitors
Precision Castparts competes in the aerospace castings and forgings market against specialized manufacturers worldwide. The roughly $10 billion castings sector remains concentrated among a few major suppliers who serve aircraft engine and airframe producers.
| Company | Headquarters | Primary Products |
|---|---|---|
| Howmet Aerospace | United States | Engine Components, Fasteners |
| Allegheny Technologies | United States | Titanium, Specialty Alloys |
| VSMPO-AVISMA | Russia | Titanium Products, Forgings |
| Aubert & Duval | France | Precision Forgings, Alloys |
| Doncasters Group | United Kingdom | Investment Castings |
| GKN Aerospace | United Kingdom | Aerostructures, Engine Parts |
| Consolidated Precision Products | United States | Investment Castings |
| Bharat Forge | India | Aerospace Forgings |
| Otto Fuchs | Germany | Precision Forgings |
| Sandvik | Sweden | Industrial Components |
FAQs
Who owns Precision Castparts Corp.?
Berkshire Hathaway owns Precision Castparts Corp. as a wholly owned subsidiary. Warren Buffett acquired the company in January 2016 for $37.2 billion in cash.
What does Precision Castparts manufacture?
Precision Castparts manufactures investment castings, forged components, fasteners, and titanium products for aerospace, power generation, and industrial applications. Most products go into jet engines and aircraft.
Is Precision Castparts a public company?
No, Precision Castparts is a private company. It traded on the New York Stock Exchange until January 2016 when Berkshire Hathaway completed its acquisition.
Where is Precision Castparts headquartered?
Precision Castparts maintains its headquarters in Portland, Oregon. The company has operated from this location since its founding in 1953.
What companies does Precision Castparts supply?
Precision Castparts supplies Boeing, Airbus, General Electric, Rolls-Royce, Pratt & Whitney, Lockheed Martin, and Northrop Grumman. Its components appear on most commercial and military aircraft.
