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Business/Financial

Berkshire To Buy Aerospace Component Supplier Precision Castparts for $37 Billion

Monday, August 10th, 2015

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Berkshire To Buy Aerospace Component Supplier Precision Castparts for $37 Billion

Major aerospace component manufacturer Precision Castparts Corp. [PCC] is being sold to Berkshire Hathaway for $37 billion, the companies said Monday.At $235 dollars per share for the outstanding PCC shares Berkshire doesn’t already own, the acquisition is the largest in billionaire investor and Berkshire chief executive Warren Buffett’s career.PCC is the industry leader in building castings used to build jet engines. Its largest customers are aerospace industry giants Lockheed Martin [LMT], Northrop Grumman [NOC] and Boeing [BA]. PCC also builds…

Congress

HASC’s Final FY ‘27 NDAA Expands Systems Eligible For Multi-Years, Includes LTAMDS, IBCS, ARRW

House defense authorizers added a measure to their version of the next defense policy bill that would expand the list of weapons platforms eligible for multi-year contracts, to include the […]

Congress

HASC Bill Would Allow Air Force To Buy More Than 267 F-15EXs

The House Armed Services Committee’s (HASC) fiscal 2027 defense authorization bill would allow the Air Force to buy more than 267 F-15EX fighters by Boeing [BA] and would extend the […]

Budget

Defense Bill Tries To Block Foreign Shipbuilding, Adds $1 Billion For Second DDG

The final version of the House Armed Services Committee’s (HASC) fiscal year 2027 defense authorization bill included two amendments pushed by Rep. Jared Golden (D-Maine) that restrict procuring Navy warships […]

Congress

Replacement Munitions May Not Be One-for-One; May Include New Weapons Chemistries, Wittman Says

As the Pentagon looks to refill inventories of weapons used in Iran and elsewhere, replacements may not be one for one but instead mark a new portfolio mix, according to […]