Key Developments: Precision Castparts Corp (PCP.N)

PCP.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

SKF INC Divests Metallic Rods Business to Precision Castparts Corp
Thursday, 14 Mar 2013 05:00am EDT 

SKF INC announced that the Company has signed an agreement to divest its metallic rods business to a United States-based Precision Castparts Corp (PCC) for approximately EUR 40 million on a cash and debt free basis. This includes the sale of the operations at the SKF sites in St. Vallier sur Rhone, France and Monroe, Washington in the United States. The sale affects around 230 employees in France and around 25 in the United States.  Full Article

Precision Castparts Corp Declares Quarterly Cash Dividend
Thursday, 14 Feb 2013 06:42pm EST 

Precision Castparts Corp announced that it has declared a quarterly cash dividend of $0.03 per share on the Company's common stock payable on April 1, 2013, to shareholders of record at the close of business on March 8, 2013.  Full Article

Precision Castparts Corp Completes Acquisition Titanium Metals Corp
Tuesday, 8 Jan 2013 08:00am EST 

Precision Castparts Corp announced that it has completed its acquisition of Titanium Metals Corp (Timet). Timet has been a subsidiary of ELIT Acquisition Sub Corp. (Acquisition Sub), a wholly-owned subsidiary of PCC, since December 21, 2012. Acquisition Sub, as the owner of more than 90% of the outstanding shares of Timet common stock, completed a short-form merger with Timet on January 7, 2013, as a result of which Timet became a wholly-owned subsidiary of PCC. Each remaining share of Timet common stock not tendered in PCC's previous tender offer for Timet shares (other than shares as to which holders properly exercise appraisal rights) was converted in the merger into the right to receive $16.50 without interest and less any applicable withholding of taxes. As a result of the merger, Timet common stock will cease to be traded on the New York Stock Exchange.  Full Article

Precision Castparts Corp To Acquire Synchronous Aerospace Group
Monday, 26 Nov 2012 09:00am EST 

Precision Castparts Corp announced that it has agreed to acquire Synchronous Aerospace Group, a build-to-print supplier of complex mechanical assemblies for commercial aerospace and defense markets. The transaction is expected to be completed by the end of December, after which Synchronous's results will be reported as part of the Airframe Products segment. Terms of the transaction were not disclosed.  Full Article

Precision Castparts Corp Declares Quarterly Dividend
Thursday, 15 Nov 2012 07:24pm EST 

Precision Castparts Corp announced that its Board of Directors has declared a quarterly cash dividend of $0.03 per share on the Company's common stock payable on December 31, 2012, to shareholders of record at the close of business on December 7, 2012.  Full Article

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.  Full Article

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