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

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...

Fork & Bottle

October 2014
Thursday, September 25, 2014

National media can’t get enough of Oregon’s pinot noir, artisan-food purveyors and lively, independent film scene.


Read more...

Report Card

September 2014
Tuesday, August 26, 2014

Strong public schools shore up the economy, survey respondents say. But local schools demonstrate lackluster performance.


Read more...

100 Best Nonprofits to Work for in Oregon [VIDEO]

News
Thursday, October 02, 2014

Screen shot 2014-10-02 at 11.17.21 AMMore than 5,500 employees from 180 organizations throughout the state participated in the 100 Best Nonprofits to Work for in Oregon project.


Read more...

Startup or Grow Up?

September 2014
Tuesday, August 26, 2014
BY JON BELL

Startup culture is all the rage. Is there a downside?


Read more...

Measure 91: What Oregon Businesses Need to Know

Contributed Blogs
Wednesday, October 15, 2014
91 thumbBY DIANE BUISMAN

Some common misconceptions employers have about marijuana.


Read more...

Back to School

September 2014
Wednesday, August 27, 2014
BY LEE VAN DER VOO

By now we’ve all read the headlines: Starbucks is giving away free degrees. Except it isn’t.


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