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Slide #36. Precision Castparts Corp. — Texas Honing, Inc.
Precision Castparts Corp. (PCP)
Texas Honing, Inc.
Precision Castparts Corp. has agreed to acquire Texas Honing, Inc. 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 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 is a manufacturer of metal components and products, provides investment castings, forgings, fasteners/fastener systems and aerostructures for aerospace and power applications. Co. has three segments: Investment Cast Products, which manufactures investment castings for aircraft engines, industrial gas turbine (IGT) engines, airframes, medical implants, armament, and unmanned aerial vehicles, among others; Forged Products, which manufactures forged components for commercial and military aircraft engines and IGT; and Airframe Products, which develops and manufactures fasteners, fastener systems, aerostructures and precision components, primarily for aerospace applications.
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Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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