Precision Castparts Corp. Broadens Aerostructures Capabilities With the Acquisition of Klune

Precision Castparts Corp. Broadens Aerostructures Capabilities With the
Acquisition of Klune

PORTLAND, Ore., July 1, 2012 (GLOBE NEWSWIRE) -- Precision Castparts Corp.
(NYSE:PCP) has agreed to acquire Klune Industries ("Klune"), a manufacturer of
complex aluminum, nickel, titanium, and steel aerostructures.

Klune focuses on complex forming, machining, and assembly of aerostructure
parts, in addition to offering significant expertise in a range of cold-formed
sheet metal components. The company, which operates facilities in North
Hollywood, California; Spanish Fork, Utah; and Kent, Washington, employs
approximately 740 employees.

"Like Centra and Primus before that, Klune expands our reach into the widely
fragmented aerostructures market," said Mark Donegan, chairman and chief
executive officer of Precision Castparts Corp. "Klune also offers significant
synergies with our existing operations. Klune's sheet metal and fabrication
capabilities will be a major addition to our aerostructures product
offering. The company purchases castings, forgings, and fasteners, which can
now be supplied internally, and their expertise in machining castings adds to
the capabilities of our aerostructures companies. The Klune facilities in
California and Washington are located very close to existing PCC
aerostructures plants, enabling us to gain operational and geographical
leverage. And, from a top-line perspective, Klune's product line will
significantly increase our dollar content on the Boeing 787, and they have
solid positions on other major aircraft platforms, such as the Boeing 737 and
Gulfstream G650." 

The cash acquisition will be immediately accretive to earnings.  Subject to
regulatory approvals, the transaction is expected to be completed during the
second quarter of fiscal 2013, after which Klune's results will be reported as
part of the Fastener Products segment. 

Precision Castparts Corp. is a worldwide, diversified manufacturer of complex
metal components and products. It serves the aerospace, power, and general
industrial markets. PCC is the market leader in manufacturing large, complex
structural investment castings, airfoil castings, forged components, and
highly engineered, critical fasteners for aerospace applications.  In
addition, the Company is the leading producer of airfoil castings for the
industrial gas turbine market.  PCC manufactures extruded seamless pipe,
fittings, forgings, and clad products for power generation and oil & gas
applications; commercial and military airframe aerostructures; and metal
alloys and other materials to the casting and forging industries.

The Precision Castparts Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8204

Information included within this press release describing the projected growth
and future results and events constitutes forward-looking statements, within
the meaning of the Private Securities Litigation Reform Act of 1995. Actual
results in future periods may differ materially from the forward-looking
statements because of a number of risks and uncertainties, including but not
limited to fluctuations in the aerospace, power generation, and general
industrial cycles; the relative success of our entry into new markets;
competitive pricing; the financial viability of our significant customers; the
concentration of a substantial portion of our business with a relatively small
number of key customers; the impact on the Company of customer or supplier
labor disputes; demand, timing and market acceptance of new commercial and
military programs, including the Boeing 787; the availability and cost of
energy, raw materials, supplies, and insurance; the cost of pension and
postretirement medical benefits; equipment failures; product liability claims;
relations with our employees; our ability to manage our operating costs and to
integrate acquired businesses in an effective manner; misappropriation of our
intellectual property rights; governmental regulations and environmental
matters; risks associated with international operations and world economies;
the relative stability of certain foreign currencies; the impact of adverse
weather conditions or natural disasters; the availability and cost of
financing; and implementation of new technologies and process improvements.
Any forward-looking statements should be considered in light of these factors.
We undertake no obligation to update any forward-looking information to
reflect anticipated or unanticipated events or circumstances after the date of
this document.

Precision Castparts Corp.'s press releases are available on the Internet at
Globe Newswire's website – http://www.globenewswire.com or PCC's home page at
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CONTACT: Dwight Weber
         Director of Communications
         (503) 946-4855
         Website: http://www.precast.com

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