Mark Donegan became President and CEO. Precision received tax breaks from local governments in the Portland metro area in 2006 in exchange for a plant expansion.[10] In 2007, the company purchased Cherry Aerospace to expand their fastener business.[11] After ranking as the 568th largest U.S. company by Fortune in 2007,[12] the company became a Fortune 500 the next year when it ranked 444, and rose to 362 in 2009.[3] It is now ranked at 322.
In May 2011, toxic chemicals such as nitrogen dioxide and hydrochloric acid were unexpectedly released at the company's titanium plant on Johnson Creek Blvd. Although four people were hospitalized, nobody was permanently injured from the fumes. Firefighters had difficulty shutting down the plant.[13] PCC announced the purchase of Carlton Forge Works in October 2009 for $850 million and Primus International Inc. in July 2011 in a $900 million deal.[9] Primus made parts for airplanes, selling their products to both Airbus and Boeing.[9] In May 2012 PCC acquired Centra Industries Inc. a builder of aircraft parts for Boeing, Lockheed Martin, Northrop Grumman, Spirit AeroSystems, Mitsubishi Heavy Industries and Bombardier. They have two plants based in Cambridge, Ontario, Canada.[14] Texas Honing was purchased by PCC in October 2012,[15] followed by the $2.9 billion acquisition of Titanium Metals in November 2012.[16]
On August 10, 2015, the boards of directors of Berkshire Hathaway Inc. and Precision Castparts Corp. unanimously approved a definitive agreement for Berkshire Hathaway to acquire, for $235 per share in cash, all outstanding PCC shares, for a total sum of $37 billion.[17]
Mark Donegan has been chairman of Precision Castparts Corp. since August 2003 and chief executive officer since August 2002. Mark was previously the Company’s president and chief operating officer.
Precision Castparts Corp. (NYSE: PCP) is a Portland, Oregon, United States-based industrial goods and metal fabrication company that manufactures investment castings, forged components, and airfoil castings for use in the aerospace, industrial gas turbine, and defense industries. In 2009 they ranked 362nd on the Fortune 500 list, and 11th in the Aerospace and Defense Industry.[3] They are now ranked 322 overall and 9th in the Aerospace and Defense Industry.[4] They are ranked #133 on the SP 500 based on market capitalization.[5] It is one of only two Fortune 500 companies headquartered in Oregon.
