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Precision Castparts Corp To Buy Titanium Metals Corp For $2.9 Billion-Reuters

Friday, 9 Nov 2012 05:48pm EST 

Reuters reported that Precision Castparts Corp will pay $2.9 billion for Titanium Metals Corp, controlled by Texas billionaire Harold Simmons, to expand its portfolio of casting products used in jet engines. Precision Castparts, whose castings are used in every jet aircraft engine program in production or under development, said the acquisition of the titanium producer will help streamline its supply chain and input costs. 

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