Key Developments: Precision Castparts Corp (PCP)
209.65USD
23 May 2013
$-2.05 (-0.97%)
$211.70
$207.68
$211.66
$207.68
951,577
624,294
$215.46
$150.53
Latest Key Developments (Source: Significant Developments)
Precision Castparts Corp Declares Dividend
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 July 1, 2013, to shareholders of record at the close of business on June 7, 2013. Full Article
Triumph Group Inc Announces Acquisition Primus Composites from Precision Castparts Corp
Triumph Group Inc announced the acquisition of Primus Composites from Precision Castparts Corp. The acquired business, which consists of two manufacturing facilities in Farnborough, England and Rayong, Thailand, will operate as Triumph Structures-Farnborough and Triumph Structures-Thailand and be included in the Aerostructures Group. The business is expected to add approximately $55.0 million in annual revenue and to be immediately accretive to earnings. Employing approximately 650 employees, Primus Composites is a global supplier of composite and metallic propulsion and structural composite components and assemblies. In addition to its composite operations, the Thailand operation also machines and processes metal components. Key customers include Airbus, Rolls Royce, Aircelle and Bombardier. Full Article
SKF INC Divests Metallic Rods Business to Precision Castparts Corp
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
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
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
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
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
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
Precision Castparts Corp Announces Acquisition Of Texas Honing, Inc.
Precision Castparts Corp announced that it has agreed to acquire Texas Honing, Inc. THI provides precision, tight tolerance pipe processing services, including honing, boring, straightening, and turning. The Company's products are used in oil & gas drilling, completion, and production applications, as well as other commercial markets. The transaction is expected to be completed during the third quarter of fiscal 2013, after which its results will be reported as part of the Forged Products segment. The financial terms of the transaction were not disclosed. Full Article
Heroux Devtek Inc Completes Sale Of Substantially All Aerostructure And Industrial Products Operations To Precision Castparts Corp
Heroux Devtek Inc announced that it has completed the sale of substantially all of its Aerostructure and Industrial Products operations to Precision Castparts Corp. Unless otherwise indicated, all amounts are in Canadian dollars. The transaction is for a cash consideration of $300.0 million, subject to post-closing adjustments. Assets acquired by Precision Castparts Corp. include Héroux-Devtek's Dorval (Quebec), Querétaro (Mexico) and Arlington (Texas) Aerostructure manufacturing sites, as well as the Cincinnati (Ohio) Industrial Products manufacturing sites. The assets sold generated sales of $126.8 million for the fiscal year ended March 31, 2012. Full Article
EU mergers and takeovers (Dec 19)
BRUSSELS, Dec 19 - The following are mergers under review by the European Commission and a brief guide to the EU merger process:
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