Permaswage -- World-Leading Designer And Manufacturer Of Aerospace Fluid Fittings -- Acquired By Precision Castparts Corp.

   Permaswage -- World-Leading Designer And Manufacturer Of Aerospace Fluid
              Fittings -- Acquired By Precision Castparts Corp.

  PR Newswire

  GARDENA, California, June 27, 2013

GARDENA, California, June 27, 2013 /PRNewswire/ -- Permaswage Holding SAS
(Permaswage), the world-leading designer and manufacturer of aerospace fluid
fittings, an investment of the European private equity firm Bridgepoint, has
been sold, subject to regulatory approvals, to Precision Castparts Corp. (PCC)
(NYSE: PCP) in a $600 million, all cash, transaction.

(Logo: http://photos.prnewswire.com/prnh/20101213/LA13515LOGO )

Permaswage is the technology leader in the fluid fitting industry providing
proprietary and standard components, tooling, and training to all major
aerospace companies globally. Permaswage products can be found on virtually
every major commercial and military aircraft program. Permaswage operates from
manufacturing locations in Gardena CA, USA; Les Clayes-sous-Bois, France; and
Suzhou, China, and employs 680 people worldwide.

"The acquisition of Permaswage by PCC provides our company, and all its
employees, a very capable and resourceful new home," said Andrew Roberts,
president and chief executive officer of Permaswage. He added, "Under the
Bridgepoint ownership since 2007 the company has been allowed to develop and
expand rapidly and I have every confidence that this will continue as we go
forward under the PCC umbrella."

The company expects the transaction to be completed during the third quarter
of 2013.

Advisers acting in this transaction on behalf of the company included: Lazard
(exclusive financial advisor); KPMG (financial vendor assistance), CSP
Associates (commercial vendor assistance), Clifford Chance (legal).

For further information:

Andrew RobertsPermaswage Tel: +1-310-217-3119 aroberts@permaswage.com

Note to editors:

About Permaswage Permaswage has designed and manufactured innovative products
for over five decades for world aircraft manufacturers. It is the technology
leader in the fluid fitting industry, providing proprietary and standard
components, tooling, and training to all major aerospace companies globally.
Permaswage operates integrated manufacturing facilities in Paris, Los Angeles
and Suzhou (China) that are dedicated to safety, quality, on-time delivery,
and technical support worldwide. Its components are present on all major
commercial aircraft platforms worldwide.

About Precision Castparts Corp. 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. The Company is also the leading producer of airfoil
castings for the industrial gas turbine market. In addition, 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, forging,
and other industries.

About Bridgepoint Bridgepoint is a European private equity firm focussing on
the acquisition of companies valued up to €1 billion. With some €11 billion of
capital raised to date, it typically focuses on acquiring well managed
companies in attractive sectors with the potential to grow organically or
through acquisition. It has offices throughout Europe in Frankfurt, Istanbul,
London, Luxembourg, Madrid, Milan, Paris, Stockholm and a portfolio
development office in Shanghai.

Website: http://www.permaswage.com
 
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