Precision Castparts Corp. Expands PCC Energy Group Capabilities With Acquisition of Texas Honing

Precision Castparts Corp. Expands PCC Energy Group Capabilities With
Acquisition of Texas Honing

PORTLAND, Ore., Oct. 7, 2012 (GLOBE NEWSWIRE) -- Precision Castparts Corp.
(NYSE:PCP) has agreed to acquire Texas Honing, Inc. ("THI" or the "Company").

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 Company operates three facilities in the Houston,
Texas, area and employs more than 200 people.

"The acquisition of THI continues our steady push to establish a broader
presence in the oil & gas market and to add capabilities that enable us to
better serve that market," said Mark Donegan, chairman and chief executive
officer of Precision Castparts Corp. "As we become a larger supplier of nickel
alloy downhole casing to the industry, THI has capabilities that will make our
casing manufacturing process quicker and more efficient. In addition, we will
be able to supply finished pipe in future project bids, which will give us the
opportunity to gain further share in an end market where we see significant
growth going forward."

The cash acquisition of THI will be immediately accretive to earnings.
Subject to regulatory approvals, 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.

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
http://www.precast.com. If you wish to be removed from this list, please reply
to Unsubscribe@precastcorp.com.

CONTACT: Dwight Weber, Director of Communications (503) 946-4855
         Website: http://www.precast.com

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