PCC Fastener Sales Soar
PCC Fastener Sales Soar
Jason Sandefur
“Vigorous aerospace sales” at Precision Castparts Corp. boosted fastener revenue 25.3% to $380.4 million in the second quarter of fiscal 2008, while operating income from fastener products rose 47% to $91.5 million. Fastener revenue included sales from Cherry Aerospace, which PCC acquired from Acument Global Technologies earlier this year. PCC also indicated “opportunities are opening up with major airframe customers.”
“Extremely solid opportunities abound on the horizon,” noted CEO Mark Donegan. “We have positioned ourselves very well on the Boeing 787 airframe and engines, and the program continues to have solid, long-term viability for us.
“In addition, the strength of our critical aerospace fastener business provides a growth engine to capitalize on market share opportunities now and in the future.”
Overall PCC revenue jumped 31% to $1.73 billion during the second fiscal quarter, with operating incoming soaring 58.6% to $368.8 million. Web: precast.com �2007 FastenerNews.com
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