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Precision Castparts Corp. Broadens Aerostructures Reach With Acquistion of Synchronous Aerospace Group



Precision Castparts Corp. Broadens Aerostructures Reach With Acquistion of
Synchronous Aerospace Group

PORTLAND, Ore., Nov. 26, 2012 (GLOBE NEWSWIRE) -- Precision Castparts Corp.
(NYSE:PCP) has agreed to acquire Synchronous Aerospace Group ("Synchronous"),
a leading build-to-print supplier of highly complex mechanical assemblies for
commercial aerospace and defense markets.

Synchronous manufactures such mechanical assemblies as high-lift mechanisms
and secondary flight controls, as well as structural components, including
wing ribs, bulkheads, and track and beam assemblies. The Company's core
capabilities include gantry machining, hard-metal machining, high-speed
machining, turning, sheet-metal forming, and metal and composite
bonding. Synchronous has approximately 690 employees in four primary
locations: Santa Ana, California; Kent, Washington; Wichita, Kansas; and
Tulsa, Oklahoma.

"Synchronous is another tuck-in acquisition that will make a strong
contribution as we continue to expand our aerostructures capabilities," said
Mark Donegan, chairman and chief executive officer. "Their gantry capabilities
will enable us to manufacture larger components and to machine as many as four
to five parts simultaneously. In addition, we can pull in house the fasteners,
forgings, and castings that Synchronous currently purchases on the outside. We
will also gain synergies from the proximity of Synchronous locations to many
of our existing operations. Overall, we are excited about Synchronous and its
solid management team joining us as we further strengthen our Airframe
Products segment."

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

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,
aerostructures 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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