Home Back Issues March 2010 Precision Castparts grows with 15th acquisition

Precision Castparts grows with 15th acquisition

| Print |  Email
Articles - March 2010
Thursday, February 25, 2010

Oregon’s fastest-growing public company has grown even more formidable — and complicated — with its recent acquisition of a 49% share in Yangzhou Chengde Steel Tube Co. of Jiangsu Province, China.

The deal represents the 15th acquisition Portland-based Precision Castparts (PCP) has made since Mark Donegan took over as CEO in 2002. Donegan has earned a strong reputation among investors and analysts as a hard-charging leader who has grown the company’s market value by a factor of 10 in less than eight years. The company ranked 362nd on the most recent Fortune 500 list.

Donegan has been relentless in his pursuit of metal casting companies specializing in aeronautics. Here’s a list of businesses PCP has purchased since Donegan took over, investing a total of $3.9 billion:

December 2003: SPS Technologies of Jenkintown, Pa., for $729 million
March 2005: Air Industries Corp. of Garden Grove, Calif., for $198 million
January 2006: Shur-Lok and Shur-Lok Intl. of Irvine, Calif., for $113 million
May 2006: Special Metals of Huntington, W.Va., for $528 million
February 2007: GSC Foundries of Ogden, Utah, $77 million
February 2007: Cherry Aerospace of Santa Ana, Calif., for $298 million
April 2007: McWilliams Forge of Rockaway, N.J., $91 million
July 2007: Caledonian Alloys, Livingston, Scotland, $208 million
September 2008: Airdrome Precision Components, Long Beach, Calif., price undisclosed
September 2008: AF Aerospace, Rugby, England, price undisclosed
November 2008: Fatigue Technology, Seattle, Wash., price undisclosed
December 2008: Hackney Ladish Holding Corp, Dallas, Texas, price undisclosed
September 2009: Carlton Forge Works, Paramount, Calif., for $850 million
January 2010: Yangzhou Chengde Steel Tube, China, $350 million

In a recent earnings call, Donegan said PCP had been pursuing the Chengde deal for more than a year and told analysts, “We are not going to retreat from taking advantage of every single opportunity to derive value from our businesses.”

BEN JACKLET
 

More Articles

Private liberal arts education: superior outcomes, competitive price

Contributed Blogs
Tuesday, August 26, 2014
0826 thumb collegemoneyBY DEBRA RINGOLD | OP-ED CONTRIBUTOR

Why has six years become an acceptable investment in public undergraduate education that over-promises and underperforms?


Read more...

The Alchemist

September 2014
Tuesday, August 26, 2014
BY LINDA BAKER

David Howitt explains why Portland consumer brands like Stumptown and Voodoo Doughnuts are taking the world by storm.


Read more...

Oversight? Or gaming the system?

News
Monday, July 14, 2014
AmazonBY VIVIAN MCINERNY | OB BLOGGER

Some people think Amazon’s winking eye logo is starting to look like a hoodwink.


Read more...

Two sides of the coin

Contributed Blogs
Monday, August 25, 2014
0825 thumb moneyBY JASON NORRIS | OB GUEST BLOGGER

Ferguson Wellman’s investment views on the economy and capital markets.


Read more...

Buyer's Remorse

September 2014
Tuesday, August 26, 2014

Parents and students paying for college today are like homeowners who bought a house just before the housing bubble burst.


Read more...

Attack of the Robin Sages

Contributed Blogs
Monday, July 07, 2014
070714 thumb linkedinfakesBY TOM COX | OB BLOGGER

Named after the 2010 experiment by Thomas Ryan, "Robin Sages" are fake social media profiles designed to encourage linking and divulging valuable information.


Read more...

Gender Code

September 2014
Tuesday, August 26, 2014
BY COURTNEY SHERWOOD

Janice Levenhagen-Seeley reprograms tech.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS