Precision Castparts Corp. Expands Aerostructures Capabilities With the Acquisition of Aerospace Dynamics International

Precision Castparts Corp. Expands Aerostructures Capabilities With the
Acquisition of Aerospace Dynamics International

PORTLAND, Ore., March 20, 2014 (GLOBE NEWSWIRE) -- Precision Castparts Corp.
(NYSE:PCP) has agreed to acquire Aerospace Dynamics International (ADI) from
The Marvin Group for $625 million.

ADI is one of the premier suppliers in the aerospace industry, operating a
wide range of high-speed machining centers. ADI has developed particular
expertise in large complex components, hard metal machining, and critical
assemblies.The company has strong positions across high growth commercial
platforms, including a significant presence on the Airbus A350.ADI operates
from one site in Valencia, California, and employs approximately 625 people.

"ADI is an acquisition we have pursued for several years," said Mark Donegan,
chairman and chief executive officer."They have invested in world-class
facilities and developed large part capabilities that will expand our
aerostructures product offering and role on next-generation aircraft. The PCC
Aerostructures team, led by Andrew Masterman and Joe Snowden, will
aggressively work with other PCC locations to provide the fasteners, forgings,
and castings that ADI currently purchases on the outside, and look to drive
additional opportunities to optimize capacity and cost decisions across our
aerostructures businesses.ADI also adds another leverage point to our growing
presence in Southern California."

The cash acquisition, which will be treated as the acquisition of assets for
tax purposes, will be immediately accretive to earnings.Subject to regulatory
approvals, the transaction is expected to be completed during the first
quarter of fiscal 2015, 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 a 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 a 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, 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; the timing of new acquisitions; 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: Jay Khetani, Vice President, Investor Relations
         (503) 946-4700
         Website: http://www.precast.com

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