PCC Structurals Signs Long-Term Contract With Rolls-Royce
6 April 2000
PCC Structurals Signs Long-Term Contract With Rolls-Royce for More Than 45 Engine Components
PORTLAND, Ore., April 6 PCC Structurals, Inc., an
operating business of Precision Castparts Corp. , and Rolls-Royce
plc have signed a multi-year contract for the production of more than
45 different investment castings, with a potential value of more than
$350 million.
Under the terms of the contract, PCC Structurals will continue to
manufacture structural castings for Rolls-Royce Trent 500, Trent 700, and
Trent 800 engines, which power the Airbus Industrie A340-500/600, the Airbus
Industrie A330, and the Boeing 777, respectively. In addition, the contract
includes seven new castings for such engines as the V2500 for the Airbus
Industrie A320 family of aircraft, the Adour for the Hawk and T-45 trainer
aircraft, the Pegasus for the AV-8B Harrier vertical takeoff and landing
aircraft, and the RTM322 for the EH101 helicopter. These castings replace
cast components previously produced by other manufacturers.
"With this agreement, we have become Rolls-Royce's preferred supplier for
structural investment castings, including castings for the Trent 900, which is
currently in the advanced design stage," said William C. McCormick, chairman
and chief executive officer of Precision Castparts Corp. "This contract
further strengthens the excellent relationship we have built with the
Rolls-Royce commercial engine business over the past several years. We're now
working to develop a more extensive list of casting and forging opportunities
with the other businesses in the Rolls-Royce group."
PCC Structurals is the market leader in manufacturing large, complex
structural investment castings for aircraft engines and is gaining a
significant market share in the production of industrial gas turbine and
airframe investment cast components. In addition, the business manufactures
castings for medical and general industrial markets. PCC Structurals' parent
company, Precision Castparts Corp., is a worldwide manufacturer of complex
metal components and products.
Information in 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 and general industrial cycles; the
relative success of the Company's entry into new markets, including the rapid
ramp-up of production for industrial gas turbine and airframe components;
competitive pricing; the availability and cost of materials and supplies;
relations with the Company's employees; the Company's ability to manage its
operating costs and to integrate acquired businesses in an effective manner;
governmental regulations and environmental matters; risks associated with
international operations and world economies; the relative stability of
certain foreign currencies; and implementation of new technologies. Any
forward-looking statements should be considered in light of these factors.
The Company undertakes no obligation to publicly release any forward-looking
information to reflect anticipated or unanticipated events or circumstances
after the date of this press release.
Precision Castparts' press releases are available at no charge through PR
Newswire's Company On-Call fax service. For a menu of PCC's press releases
or to retrieve a specific release, call 800-758-5804, extension 714025.
Information is also available on the Internet at the PRN Web site --
http://www.prnewswire.com or PCC's home page at http://www.precast.com.