Precision Castparts Corp. Expands Fluid Fittings Capabilities With the Acquisition of Permaswage

Precision Castparts Corp. Expands Fluid Fittings Capabilities With the
Acquisition of Permaswage

PORTLAND, Ore., June 26, 2013 (GLOBE NEWSWIRE) -- Precision Castparts Corp.
(NYSE:PCP) has agreed to acquire Permaswage SAS (Permaswage), a world-leading
designer and manufacturer of aerospace fluid fittings, for $600 million.

Permaswage's primary focus is the design and manufacture of permanent fittings
used in fluid conveyance systems for airframe applications, as well as related
installation tooling. The company has particular expertise in swaged fittings,
which establish a permanent connection between two tubes, and a growing
presence in separable (threaded) fittings.Permaswage permanent fittings have
been designed into virtually every major commercial and military aircraft
program.The company operates manufacturing locations in Gardena, California;
Paris, France; and Suzhou, China, and employs approximately 680 people.

"The acquisition of Permaswage continues our disciplined drive to enhance our
value proposition to our airframe customers," said Mark Donegan, chairman and
chief executive officer of Precision Castparts Corp."The company extends our
reach into permanent fittings, building on the foothold in separable fittings
we established with the acquisition of Airdrome.Permaswage has secured strong
permanent fittings positions on key current and next-generation commercial
aircraft platforms, and the long-term opportunities for profitable growth that
we can derive from this acquisition are substantial."

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 2014, after which its 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 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.

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, including the ability to
realize expected synergies; 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: Jay Khetani, Vice President of Investor Relations
         (503) 946-4700
         Website: http://www.precast.com

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